January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road.…
January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road.…
January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end.…
January 24: The number of tourists visiting the Annapurna Circuit has declined in recent…
January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency and…
January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal…
January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of…
January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial…
January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last…
January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its…
January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa.…
January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of…
January 21: The government is preparing to adjust the price of milk and dairy…
January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron…
January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic.…
January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road. The department is signing a contract to complete the flyover within the next two years under the Engineering Procurement Construction (EPC) model.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Department of Roads had issued a tender last June to construct a four-lane flyover at Gwarko Chowk.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Prabhat Kumar Jha, director of the Center for Quality, Research and Development under the department, an agreement will be signed with the joint venture company, as it offered the lowest bid. The company will be awarded a contract worth Rs 170 million within the next two weeks to construct the flyover.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The flyover in Gwarko is in the process of agreement," Jha said. "We have submitted a proposal to the finance ministry for financial assurance for flyovers in Satdobato and Ekantakuna." The department has already studied and designed the flyover to be built at Ekantakuna and Satdobato along the Ring Road. He added that these flyovers will also be constructed in the EPC system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Finance is preparing to call for a bid to construct these two flyovers in the current fiscal year if the financial resources are secured. Similarly, studies have been completed for the flyovers to be constructed at Gaushala and Koteshwar while a study is being done for a flyover to be constructed at Baneshwor, said Jha. The flyover project, which has been under discussion for a long time, has moved ahead as increasing number of vehicles has made traffic management more challenging in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although it is termed as a flyover, the department has designed a 35-meter bridge of simple type, not a complex structure like in developed countries. However, the final design will be prepared by the construction company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Kalanki-Koteshwor section of the Ring Road has been upgraded to eight lanes with the help of the Chinese government. The government has allocated Rs 340 million for flyovers in the current fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14403', 'image' => '20220124074154_20200925021204_1600988628.Clipboard13.jpg', 'article_date' => '2022-01-24 19:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14659', 'article_category_id' => '1', 'title' => 'Insurance Board to Fix Districts for Insurance Companies to Conduct Literacy Programmes', 'sub_title' => '', 'summary' => 'January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. The board had earlier fixed certain districts for non-life insurance companies to launch agriculture insurance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board will issue directives at the earliest to non-life insurance companies in this regard. Non-life insurance companies will be instructed to conduct insurance literacy programme in the same districts where they are conducting agricultural insurance programmes while the board is working to fix the districts for life insurance companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the board, life insurance companies are required to conduct literacy programmes related to life insurance while non-life insurance companies have to conduct literacy programmes related to non-life insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajuraman Poudel, CEO of the Insurance Board, said that the insurance companies are being assigned districts and directives will be issued in the next few days.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are introducing such a provision to make insurance literacy effective. Non-life insurance companies will conduct programmes in the same district where they have conducted agricultural insurance programmes,” he said, adding, “The new provision will be enforced immediately for non-life insurance companies." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The expenses incurred during these programmes can be kept under the heading of corporate social responsibility. The board expects these programmes will increase access to insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Currently, the board itself has been conducting insurance literacy and interaction programmes at the local levels. The board believes it would be more effective if insurance companies start conducting literacy programmes at district level themselves, Poudel said.</span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14402', 'image' => '20220124055808_Insurance board.jpg', 'article_date' => '2022-01-24 17:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14658', 'article_category_id' => '1', 'title' => 'Tourist Arrival Slumps in Annapurna Circuit Again', 'sub_title' => '', 'summary' => 'January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days. Tourism entrepreneurs are greatly concerned about the declining number of tourists along the Annapurna Circuit, which is considered as one of the most important tourist destinations in the world tourism market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of tourists visiting the Annapurna Circuit has reduced to almost zero since the last ten days. The main reason for decline in the number of tourists is the increasing risk of Covid-19 alongside fall in temperature resulting in extreme cold in this region. Tourism entrepreneurs say that their source of income has come to a halt due to non-arrival of tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bahadur Gurung, a tourism assistant at the Annapurna Conservation Area Project (ACAP) Tourist Inspection Center, Dharapani, said that the number of tourists has sharply declined in recent times. The Annapurna Circuit used to receive 50-60 tourists daily after a decline in the rate of Covid-19 infections. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The tourist destination, which recently started to recover from the slump caused by the Covid-19 is about to face the hardship again. It is uncertain until when the Covid-19 is going to last. But if the circuit does not get operational for a long time, the tourism entrepreneurs have to face a great loss,” said Gurung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">More than 35,000 tourists visit this circuit in an annual basis. The main source of income for most of these tourism entrepreneurs is tourists. But with the decline in tourist arrivals in the circuit due to the Covid-19, the tourism entrepreneurs fear they will not have any income, which will make it difficult for the family to make ends meet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Pachh Bahadur Gurung of Lamjung Marshyangdi Rural Municipality-4 Jagat, a tourism entrepreneur in Annapurna Circuit, said, “We used to earn 30-40 thousand rupees daily when there was a good number of tourists, but now the income has become zero due to decline in the number of tourists.”</span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14401', 'image' => '20220124011859_10-UTL-Landing-Pg-2400x1600.jpg', 'article_date' => '2022-01-24 13:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14657', 'article_category_id' => '1', 'title' => 'NRB Warns of Action against Anyone Involved in Virtual Currency, Networking Business ', 'sub_title' => '', 'summary' => 'January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency and networking.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency/cryptocurrency and networking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Sunday, the central bank said anyone found involved in the business of cryptocurrency such as Hyper Fund and pyramid-based networking like Jocial, Crowd1, Solemax and Global would be punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Virtual currency is not given legal recognition in Nepal. So, the people can be defrauded by such virtual currency and networking. It also leads to illegal capital outflow," the NRB said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank added that any foreigner or Nepali national found involved in this illegal act within the country or abroad as well as Nepali citizens residing in foreign countries would be punished as per the existing laws. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14400', 'image' => '20220124113853_Pyramidschemeee23.jpg', 'article_date' => '2022-01-24 11:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14656', 'article_category_id' => '1', 'title' => 'Country's Imports Exceed Rs 999 Billion in First 6 Months of Current FY ', 'sub_title' => '', 'summary' => 'January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year. The country imported goods and services worth Rs 999.34 billion and exported goods and services worth Rs 118.85 billion in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imported goods from 141 countries and the largest import was from India. Imports from India were worth Rs 603.54 billion during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade statistics of the first six months of the current fiscal year (FY 2021/22) released by the Department of Customs shows that the import increased by 59.13 percent while the export went up by 955.48 percent during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The import in the first six months of the last fiscal year (FY 2020/21) stood at Rs 661.24 billion. Although the export is increasing, the import is growing exponentially thereby leading to a heightening trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade deficit increased by 46.64 percent in the first six months of the current fiscal year to reach Rs 880.49 billion. The trade deficit in the same period of last fiscal year was Rs 600.44 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the country’s overall foreign trade was worth Rs 1.11 trillion in the first six months of the current fiscal year while it was Rs 722.45 billion during the corresponding period of last fiscal year. The foreign trade in the first six months of the current fiscal year is 54.86 percent more as compared to the foreign trade in the corresponding period of the last fiscal year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14399', 'image' => '20220123052534_Foreign Trade.jpg', 'article_date' => '2022-01-23 17:24:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14655', 'article_category_id' => '1', 'title' => 'Handicraft Business Slumps Again', 'sub_title' => '', 'summary' => 'January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19. The business was increasing despite lots of ups and downs in the last two years until the emergence of the Omicron variant.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Trade has slowed down due to the spread of the virus that caused problems in exporting goods to foreign countries. Export of handicraft items has been limited to 30 percent due to increasing rate of infection in different countries including Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">President of the Federation of Handicraft Association of Nepal, Surendra Bhai Shakya, said that the main reasons for the decline in exports were declining demand from foreign countries and increasing cargo fares.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the cargo fare has increased up to five times at present. It has become more difficult for traders to export goods due to increased fares when business is yet to pick up the momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There are more than 1,000 handicraft shops in Kathmandu, Bhaktapur and Lalitpur alone, according to the federation. Lately, all these stores have been affected by the Omicron virus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the handicraft business is directly connected with the tourism sector, the trade of handicraft items decreases as soon as the number of tourists coming to Nepal decreases. At present, even the tourism business has not been showing any development due to which the handicraft business is also facing problems.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About 30 percent of handicraft shops in Thamel, Asan, New Road and Basantapur areas of Kathmandu have been closed since the onset of the pandemic in Nepal, said President Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Federation, handicraft items worth Rs 6 billion are sold in Nepal's domestic market annually. However, the major markets for Nepali handicrafts are the United States, China and other European countries. Nepal exports handicraft products worth Rs 11 to 15 billion annually to these countries. About 1.1 million people including traders, entrepreneurs and workers are associated with this sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the federation says the annual turnover has not been even 5 billion for the past two years and more than 40 percent of the people have lost their jobs due to the impact of the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shakya emphasized on the need to increase the use and consumption of Nepali handicraft materials within the country itself as the business has slowed down due to the pandemic. He expressed the belief that it would be really convenient for the handicraft business even if only 30 percent of the 42 types of handicraft products produced in Nepal could be consumed within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Entrepreneurs have complained that the government of Nepal has shown indifference towards handicraft business and that they have had to suffer not only during the pandemic but at other times as well. The SAARC handicraft building constructed on three ropanis of land in Tripureshwor three years ago for the promotion and lab testing of Nepali handicrafts has also not been able to operate yet.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14398', 'image' => '20220123050319_20160802043332_meta.jpg', 'article_date' => '2022-01-23 17:02:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14654', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) has formed a joint monitoring team in collaboration with the Ministry of Land Management, Cooperatives and Poverty Alleviation and the Department of Cooperatives to monitor the cooperatives in view of increasing irregularities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government is under pressure to make the monitoring of cooperatives effective as the civil cooperatives with a turnover of over eight billion rupees are facing problems recently. Service seekers of the cooperatives have started agitating in the streets demanding return of their savings.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to the lack of effective monitoring, big cooperatives are facing problems," said Jhalakram Adhikari, registrar of the Department of Cooperatives, adding, “So we are conducting extensive monitoring together with the central bank."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, extensive monitoring of large cooperatives was done back in 2010 with the involvement of NRB. The central bank had sent two deputy director-level staff for the monitoring done under the coordination of the Registrar of the Department. After 2014, the Department of Cooperatives has been monitoring the cooperatives alone but it has not been effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Cooperatives Act-2074 BS allows the central bank to monitor big cooperatives. Similarly, the Cooperatives Regulation-2075 also permits NRB to monitor the cooperatives with transactions more than Rs 500 million. However, NRB insists it cannot monitor the cooperatives but only cooperate with the Department of Cooperatives in the monitoring process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Federal Department of Cooperatives has initiated discussions on setting up a separate monitoring mechanism to make the regulation of cooperatives effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the jurisdiction of the cooperatives have been transferred to the state and local levels as per the provisions of the constitution, discussions have been started to form a monitoring mechanism with the participation of all the three levels due to vulnerability of the regulatory body, Adhikari said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Finance Minister Janardan Sharma had announced a separate mechanism to regulate cooperatives in the budget replacement bill. As per the provisions of the federal constitution, the rights of cooperatives have been transferred to the local level. Adhikari said that the mechanism could be set up with the participation of all three levels in respect to the spirit of federalism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At present, all three levels of government have been regulating cooperatives to the best of their ability. However, irregularities have not been brought under control.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14397', 'image' => '20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-01-23 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14653', 'article_category_id' => '1', 'title' => 'Influx of Domestic Tourists up in Khaptad after Snowfall', 'sub_title' => '', 'summary' => 'January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. ', 'content' => '<p><em>This photo posted on social media shows snow-clad hills of Khaptad. Photo Courtesy: Dipak B Khadka.</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The green meadow and high hills surrounding Khaptad have been clad with over a feet snow attracting nature lovers, informed the officials of Khaptad National Park at Jhigrana. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Around 12 to 15 domestic tourists visit Khaptad on an average day. The number of visitors shoot up during snowfall, which occurred last time almost three weeks ago on December 29. Although the risk of COVID-19 persist in the district, tourists have been visiting the place to play with snow and enjoy the beauty of the snow-clad hills and meadows, said Hiralal Saun, a local. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has stopped and sunshine makes easier for the tourists to visit the place at noon, Saun said. Due to snowfall, Khaptad, which is also a protected conservation area, has witnessed an increase in cold making it difficult for the locals for outdoor movement. Farmers are, however, elated with snowfall hoping that they can yield good harvest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deepak Bahadur Khadka, a home-stay proprietor at Jhigrana, shared that the snowy view of the hills and meadows here serves as a feast for the eyes to nature and adventure lovers who have to trek to reach here. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over 4,000 domestic tourists have visited Khaptad since mid-April last year, the Khaptad National Park Office said. <em>(With inputs from RSS) </em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14396', 'image' => '20220123125240_FJD4KpyaQAkqLPh (1).jpg', 'article_date' => '2022-01-23 12:49:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14652', 'article_category_id' => '1', 'title' => '33% Households at Risk of Falling into Poverty due to COVID-19: Survey', 'sub_title' => '', 'summary' => 'January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread.', 'content' => '<p><em> Photo Courtesy: UNICEF </em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread. Since March 2020, Nepal has also imposed restrictions on movements and lockdowns, which inevitably led to social and economic hardships such as job loss, disruptions in public services, and limited access to healthcare and education. These visible impacts of the pandemic include a range of multiple issues that children had to face such as losing access to education and compromising their diets due to their caregivers' food insecurity and job losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A significant percentage of population in Nepal remains at risk of falling into poverty, a nationwide remote survey entitled ‘Tracking Socio-Economic Impacts of COVID 19 on Children and Families in Nepal’ states. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey conducted by Sharecast Initiative Nepal in collaboration with UNICEF demonstrated key developments in the lives of the households with children since May 2020. It has revealed that July 2020 recorded more than 60 percent of the households with children lost income and livelihood. Although the percentage of the households with livelihood and income loss has been decreasing substantially since then, a significant percentage of population remains at risk of falling into poverty. As of November 2021, 33 percent of households were at risk of poverty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey was conducted to understand the evolving situation of households with children during the pandemic. Starting from its inception in May 2020, UNICEF and Sharecast Initiative Nepal conducted eight rounds of surveys to monitor and track changes in more than 6,000 households’ livelihood, WASH, and children’s access to education, including food intake and healthcare of children, breastfeeding and pregnant mothers, shared Chief Executive Officer of Sharecast Initiative, Madhu Acharya. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, major emerging needs of families in the pandemic were reportedly financial assistance, food and employment. The survey showed that families continue to incur debt and deplete assets as a coping mechanism. Around 60 percent of parents were found confident about sending their children back to school and 80 percent felt that their children were lagging behind in studies. A total of 21 percent of households with children struggled to obtain enough food in November 2021, the survey revealed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nearly 10 percent of these households reduced dietary intake of their children. Likewise, 15 percent of the respondents reported witnessing violence against women and children was increasing. Roughly, 10 percent of respondents also reported witnessing child labour. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the findings of the survey, 84 percent of respondents wore masks to protect themselves from Covid-19 and 71 percent of the respondents were vaccinated in November 2021. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14395', 'image' => '20220123120815_IMG_0015.jpg', 'article_date' => '2022-01-23 12:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14651', 'article_category_id' => '1', 'title' => 'Gautam Buddha Airport Requires more than 2 Dozen Staff Immediately', 'sub_title' => '', 'summary' => 'January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. The airport is gearing up for calibration flights and then regular flights subsequently. The Civil Aviation Authority of Nepal (CAAN) has appointed a Managing Director (MD) for the operation and management of the airport. The airport has witnessed 99 percent progress in construction.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CAAN appointed Govinda Prasad Dahal as the managing director of Gautam Buddha Airport on January 20. Dahal arrived at the airport on January 16. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The airport requires 151 employees for operation. Currently, 34 employees including the managing director, have been appointed. The Central Office of CAAN is recruiting staff from internal sources and open competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Newly-appointed managing director Dahal said that a maximum of 30 employees would be needed immediately, though not all of them now. He said that there was an urgent need for staff in the fields of radio, mechanical, computer and fire departments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the calibration flight will be done soon at the airport, it is necessary to immediately appoint staff.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He informed that the Aero Thai team is preparing to come to Nepal on Saturday, January 22 for the calibration flight. The authority has reached an agreement with the Thai company for a calibration flight at the airport. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Construction of Gautam Buddha Airport was started seven years ago. The concerned authorities have already spent Rs 22 billion on compensation for acquiring lands. Regarding the equipment and construction, only Rs 2 billion remains to be paid. After waiting for nearly six and a half decades, Nepal is all set to operate Gautam Buddha Airport as the country’s second international airport.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, due to the Covid-19 crisis, the completion of the airport has been delayed, and now the date of the test and calibration flight has been postponed. It is yet to be decided whether the airport, which is in the final stages of construction, will be operated by the CAAN itself or handed over to the private sector. CAAN has said that it is doing homework on the modalities of airport operation.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14394', 'image' => '20220121071013_gautam-buddha-international-airport-blueprint-1536x629.jpg', 'article_date' => '2022-01-21 13:42:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14650', 'article_category_id' => '1', 'title' => 'Economy in Crisis Again', 'sub_title' => '', 'summary' => 'January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget. According to the statistics of the Ministry of Finance, the capital expenditure is pitiful and the current programmes announced in the budget have not been implemented for a long time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Financial Comptroller General Office, the government expenditure is pathetic. In the last six months, the government has met only 31 percent of its annual target. As the pandemic resurfaces again, the government is expecting a slump in revenue collection as well as expenditure, and other challenges in meeting the annual target.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association said that development expenditure is low not only because of the current situation created by the pandemic but also due to the government's policy and the shortage of liquidity. The development activities can be accelerated if the government releases the deposit amount collected as collateral from the contractors, argues Singh. Such an amount totals Rs 30 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh shared that if the mobilization payment system is maintained at 20 percent, the cycle of economy will be better and construction work can be expedited. The rise in COVID cases has impeded development projects. The projects that were affected by the pandemic for the last two years will be further affected by the latest Omicron variant. Omicron is expected to affect 2772 development projects across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government has not paid any attention to the implementation of the programmes announced in the current budget. Distributing cash relief to poor families is one of many such programmes. This affects the economy on one hand and jeopardizes the public trust on the other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, providing concessional loans to startup businesses have not been implemented though this programme has been included in the budget for the last ten years. The Ministry of Finance and the National Planning Commission have been reiterating that the work procedures are being formulated but it has never gone into implementation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ritesh Kumar Shakya, joint secretary at the Ministry of Finance, informed that the work procedure is taking time and the programme will be implemented as soon as the work is completed. Likewise, the government has introduced the Prime Minister's Employment Programme to provide employment to those who lost their jobs due to the pandemic. But the condition of this programme is awful. A total of 700,000 people had applied for this employment programme but only 6,000 have received employment in the current fiscal year </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The poor implementation of the budget is risking the economic growth rate set for the current fiscal year. The World Bank report had revised the growth rate and brought it down to 3.9 percent. The sectors that influence economic growth are once again bearing the brunt of the pandemic. Hotel Bookings are being canceled. Various five-star hotels, including Soaltee, Everest Hotel, Hotel Yak & Yeti, Hyatt, Marriott, Aloft, Radisson, Hyatt Place, have reported about cancellation of rooms and banquet hall bookings. According to the Baneshwor-based Everest Hotel, the occupancy rate is only seven percent at the moment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The real estate business is also in recession. More than 2500 houses and lands used to be bought/sold in Lagankhel, Bhaktapur and other places of the Kathmandu Valley. The number has significantly gone down. The real estate business has slowed down for the past three months. The interest rate of loans taken by entrepreneurs has increased to twelve to thirteen percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Real estate entrepreneur Dinesh Lal Chuke said the real estate business in the country has also slowed down like in the international market. The shortage of lendable funds in the banking system has impeded the growth of the economy. The loan-to-deposit ratio of financial institutions has increased to 90. Earlier, the CD ratio had increased to 91.49 percent on November 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the recent provision of the Nepal Rastra Bank (NRB) to open LCs for import of goods since December, and the provision set by the Ministry of Finance to use up to 80 percent of the local level funds for CD calculations, had eased the CD ratio to 89.29 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, said that the liquidity crisis is set to improve as the central bank is working on it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to experts, the government should prevent the economic crisis by increasing external debt and grants along with the increase in capital expenditure. Bimal Koirala, former Chief Secretary, argued the government announces ambitious plans through policies and programmes but do nothing to achieve the goals which is hitting the economic indicators.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14393', 'image' => '20220121013137_Untitled.jpg', 'article_date' => '2022-01-21 13:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14649', 'article_category_id' => '1', 'title' => 'Government Preparing to Adjust Price of Milk ', 'sub_title' => '', 'summary' => 'January 21: The government is preparing to adjust the price of milk and dairy products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government is preparing to adjust the price of milk and dairy products.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development is planning to adjust the price of milk upon the recommendation of a committee formed to carry out a study regarding the price adjustment of dairy products. The ministry had formed the committee after the Central Dairy Cooperative Association Limited Nepal requested for increasing the price of milk arguing that they were not getting even the cost of investment by selling milk at its current price. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the farmers are compelled to sell milk bearing loss because the price of milk has remained stable for two and half years whereas the price of animal feed and fodder has sky-rocketed during the same period. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the price of milk used to be adjusted every year in the past, it has not happened for the past two and half years. Farmers have been selling milk at Rs 53 per litre currently. The report states that the farmers bear loss of Rs 4 per litre when they sell milk at the current rate. It is stated in the report that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report recommends increasing the price of milk by Rs 10 per litre. The consumers have to pay Rs 76 per litre at present. If the price is adjusted as per the committee's recommendation, the farmers will get Rs 60 per litre while the consumers will have to buy a litre of milk for Rs 86. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Out of the increased rate of Rs 10 per litre, the farmers will get Rs 7 while the dairy entrepreneur will get Rs 3. The farmers will make a profit of Rs 3 per litre after deducting the investment price after the implementation of the new price based on the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee prepared the report after consulting with the dairy farmers and dairy entrepreneurs in Ilam, Jhapa, Sunsari, Morang, Saptari, Sarlahi, Bara, Makawanpur, Kavre, Chitwan, Nawalparasi, Rupandehi, Kaski, Banke, Surkhet, Kailali and Kanchanpur districts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The dairy industry contributes 5 percent to the GDP of the country. The annual milk production in the country has reached 2.3 million tonnes. Forty percent of this production is cow milk and 60 percent is buffalo milk. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14392', 'image' => '20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-01-21 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14648', 'article_category_id' => '1', 'title' => 'Odd and Even System for Vehicles in Kathmandu Valley from Tonight ', 'sub_title' => '', 'summary' => 'January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Chief District Officer of Kathmandu, Suprabha Khanal Dhungel, shared that an order has been issued to operate public and private vehicles (including two-wheelers) with odd registration number on odd days and even registration number on even days in Kathmandu Valley. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The order also stipulates that public transport should not have more passengers than the seat capacity, all passengers should be required to wear masks, and sanitizers should be provided at the door of the vehicle and inside the vehicle. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the order further states that the head of the office will be responsible to make arrangements for proper management of the service in all the public and government offices in the district. <em>(With inputs from RSS)</em></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14391', 'image' => '20220121120258_20210804111341_20200903113103_1599056781.jpg', 'article_date' => '2022-01-21 12:02:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14647', 'article_category_id' => '1', 'title' => 'Foreign Reinsurance Companies Increase Premium Rates', 'sub_title' => '', 'summary' => 'January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. The pandemic has not only led to a rise in the claims but the revenue of insurance companies has also declined. Also, the insurance business has slumped, making insurance companies increase premium rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Foreign insurance and reinsurance companies do not invest much in bank deposits as in Nepal. The scope of their investment is wider. Their investment areas have been affected by the pandemic leading to decline in their revenue.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition, the pandemic has increased mortality rates in most countries, resulting in increased mortality claims for insurance companies. That's why reinsurance companies have raised premium rates, experts say.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Besides, climate change is inviting major natural disasters, such as tsunamis, storms, landslides, floods, in almost all parts of the world. Such natural disasters have caused extensive damage to various projects, infrastructure and physical assets around the world and led to a rise in insurance claims.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the insurance business has not increased accordingly. In view of the current circumstances, foreign reinsurance companies have increased the premium rate, experts said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Damodar Bhandari, assistant chief executive officer of Nepal Reinsurance Company, admits that companies have increased premium rates due to the pandemic and climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The pandemic has reduced the volume of revenue of reinsurance companies. On top of that, the claim ratio has increased due to the pandemic and climate change. But, business did not increase in the same ratio," he said, “Therefore, foreign reinsurance companies have increased the premium rate. The ratio of transferring risk through retrocession has also become more expensive."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the rating of some reinsurance companies has shrunk. The rating of Indian reinsurance company GIC dropped from minus A to triple B. According to Bhadari when the foreign companies increase the premium rate, the insurance (life / non-life) done by the general people will become more expensive in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“When the reinsurance companies raise premium rates, insurance companies must increase fees they charge on customers,” he said, "When the premium gets dearer, the number of prospective insurers will go down."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the conditions set by the foreign reinsurance companies may be stricter than before. It is not as simple as before to reinsure in the international market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chunky Chhetri, president of the Nepal Insurers Association, also informed that the international reinsurance companies have increased the premium rate. "There has been a rise in incidents of floods and landslides leading to a rise in engineering insurance claims in the country,” said Chhetri, “But business has not increased at the same rate.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Poshak Poudel, vice president of Life Insurers Association, said that insurance might be dearer in the country due to a rise in premium in the international market.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14390', 'image' => '20220120021710_20191023114923_aaaaa.jpg', 'article_date' => '2022-01-20 14:16:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14646', 'article_category_id' => '1', 'title' => 'Small Businessmen Worried about Increasing Impact of Covid-19', 'sub_title' => '', 'summary' => 'January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises. In the last few days, the number of infected people has been increasing at an alarming rate. As the number of infected people is increasing, the number of customers buying goods in small shops and shopping malls has been declining as well. This has caused a decline in trade as well, adding to the concerns of SMEs businessmen.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders are fearful of lockdown after the government has started imposing strict rules to keep the infection in check. They have been tormented for the past two years due to the lockdown and restrictions time and again to curb the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some of the small traders have already left their business due to the restrictions imposed by the government while the rest have not been able to pay the rent and interest on loans taken from banks. The panic among the traders has increased as the infection rate of Omicron has started increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, the president of National Entrepreneurs Federation of Nepal, an association of small and medium traders, said that the recent situation of Omicron has caused great panic among the traders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders have already been handicapped by the past restrictions. He said that the traders are not in a position to face the same situation again. Instead, he said, the business should be run smoothly by following the criteria set by the Ministry of Health and Population.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of customers shopping in shopping malls and other shops has decreased as the number of infected people is increasing. According to Sushma Mahara, treasurer of Nepal Chamber of Commerce and Industry, Kathmandu, the number of customers visiting shopping malls has dropped sharply after the government imposed the rule that no more than 25 people can gather in a place.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">She said that as the number of customers decreased, more than half of the employees working in the shop had to be given leave and stay at home.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Concerned authorities point out that traders will have to resort to other alternatives if they have to face the lockdown again. Small and medium enterprises contribute about 22 percent to the country's GDP and employ more than 1.7 million people.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14389', 'image' => '20220120015243_20200524072335_SMES.jpg', 'article_date' => '2022-01-20 13:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14660', 'article_category_id' => '1', 'title' => ' DoR to Sign Contract for Construction of Gwarko Flyover Soon', 'sub_title' => '', 'summary' => 'January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road. The department is signing a contract to complete the flyover within the next two years under the Engineering Procurement Construction (EPC) model.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Department of Roads had issued a tender last June to construct a four-lane flyover at Gwarko Chowk.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Prabhat Kumar Jha, director of the Center for Quality, Research and Development under the department, an agreement will be signed with the joint venture company, as it offered the lowest bid. The company will be awarded a contract worth Rs 170 million within the next two weeks to construct the flyover.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The flyover in Gwarko is in the process of agreement," Jha said. "We have submitted a proposal to the finance ministry for financial assurance for flyovers in Satdobato and Ekantakuna." The department has already studied and designed the flyover to be built at Ekantakuna and Satdobato along the Ring Road. He added that these flyovers will also be constructed in the EPC system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Finance is preparing to call for a bid to construct these two flyovers in the current fiscal year if the financial resources are secured. Similarly, studies have been completed for the flyovers to be constructed at Gaushala and Koteshwar while a study is being done for a flyover to be constructed at Baneshwor, said Jha. The flyover project, which has been under discussion for a long time, has moved ahead as increasing number of vehicles has made traffic management more challenging in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although it is termed as a flyover, the department has designed a 35-meter bridge of simple type, not a complex structure like in developed countries. However, the final design will be prepared by the construction company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Kalanki-Koteshwor section of the Ring Road has been upgraded to eight lanes with the help of the Chinese government. The government has allocated Rs 340 million for flyovers in the current fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14403', 'image' => '20220124074154_20200925021204_1600988628.Clipboard13.jpg', 'article_date' => '2022-01-24 19:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14659', 'article_category_id' => '1', 'title' => 'Insurance Board to Fix Districts for Insurance Companies to Conduct Literacy Programmes', 'sub_title' => '', 'summary' => 'January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. The board had earlier fixed certain districts for non-life insurance companies to launch agriculture insurance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board will issue directives at the earliest to non-life insurance companies in this regard. Non-life insurance companies will be instructed to conduct insurance literacy programme in the same districts where they are conducting agricultural insurance programmes while the board is working to fix the districts for life insurance companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the board, life insurance companies are required to conduct literacy programmes related to life insurance while non-life insurance companies have to conduct literacy programmes related to non-life insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajuraman Poudel, CEO of the Insurance Board, said that the insurance companies are being assigned districts and directives will be issued in the next few days.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are introducing such a provision to make insurance literacy effective. Non-life insurance companies will conduct programmes in the same district where they have conducted agricultural insurance programmes,” he said, adding, “The new provision will be enforced immediately for non-life insurance companies." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The expenses incurred during these programmes can be kept under the heading of corporate social responsibility. The board expects these programmes will increase access to insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Currently, the board itself has been conducting insurance literacy and interaction programmes at the local levels. The board believes it would be more effective if insurance companies start conducting literacy programmes at district level themselves, Poudel said.</span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14402', 'image' => '20220124055808_Insurance board.jpg', 'article_date' => '2022-01-24 17:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14658', 'article_category_id' => '1', 'title' => 'Tourist Arrival Slumps in Annapurna Circuit Again', 'sub_title' => '', 'summary' => 'January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days. Tourism entrepreneurs are greatly concerned about the declining number of tourists along the Annapurna Circuit, which is considered as one of the most important tourist destinations in the world tourism market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of tourists visiting the Annapurna Circuit has reduced to almost zero since the last ten days. The main reason for decline in the number of tourists is the increasing risk of Covid-19 alongside fall in temperature resulting in extreme cold in this region. Tourism entrepreneurs say that their source of income has come to a halt due to non-arrival of tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bahadur Gurung, a tourism assistant at the Annapurna Conservation Area Project (ACAP) Tourist Inspection Center, Dharapani, said that the number of tourists has sharply declined in recent times. The Annapurna Circuit used to receive 50-60 tourists daily after a decline in the rate of Covid-19 infections. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The tourist destination, which recently started to recover from the slump caused by the Covid-19 is about to face the hardship again. It is uncertain until when the Covid-19 is going to last. But if the circuit does not get operational for a long time, the tourism entrepreneurs have to face a great loss,” said Gurung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">More than 35,000 tourists visit this circuit in an annual basis. The main source of income for most of these tourism entrepreneurs is tourists. But with the decline in tourist arrivals in the circuit due to the Covid-19, the tourism entrepreneurs fear they will not have any income, which will make it difficult for the family to make ends meet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Pachh Bahadur Gurung of Lamjung Marshyangdi Rural Municipality-4 Jagat, a tourism entrepreneur in Annapurna Circuit, said, “We used to earn 30-40 thousand rupees daily when there was a good number of tourists, but now the income has become zero due to decline in the number of tourists.”</span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14401', 'image' => '20220124011859_10-UTL-Landing-Pg-2400x1600.jpg', 'article_date' => '2022-01-24 13:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14657', 'article_category_id' => '1', 'title' => 'NRB Warns of Action against Anyone Involved in Virtual Currency, Networking Business ', 'sub_title' => '', 'summary' => 'January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency and networking.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency/cryptocurrency and networking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Sunday, the central bank said anyone found involved in the business of cryptocurrency such as Hyper Fund and pyramid-based networking like Jocial, Crowd1, Solemax and Global would be punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Virtual currency is not given legal recognition in Nepal. So, the people can be defrauded by such virtual currency and networking. It also leads to illegal capital outflow," the NRB said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank added that any foreigner or Nepali national found involved in this illegal act within the country or abroad as well as Nepali citizens residing in foreign countries would be punished as per the existing laws. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14400', 'image' => '20220124113853_Pyramidschemeee23.jpg', 'article_date' => '2022-01-24 11:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14656', 'article_category_id' => '1', 'title' => 'Country's Imports Exceed Rs 999 Billion in First 6 Months of Current FY ', 'sub_title' => '', 'summary' => 'January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year. The country imported goods and services worth Rs 999.34 billion and exported goods and services worth Rs 118.85 billion in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imported goods from 141 countries and the largest import was from India. Imports from India were worth Rs 603.54 billion during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade statistics of the first six months of the current fiscal year (FY 2021/22) released by the Department of Customs shows that the import increased by 59.13 percent while the export went up by 955.48 percent during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The import in the first six months of the last fiscal year (FY 2020/21) stood at Rs 661.24 billion. Although the export is increasing, the import is growing exponentially thereby leading to a heightening trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade deficit increased by 46.64 percent in the first six months of the current fiscal year to reach Rs 880.49 billion. The trade deficit in the same period of last fiscal year was Rs 600.44 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the country’s overall foreign trade was worth Rs 1.11 trillion in the first six months of the current fiscal year while it was Rs 722.45 billion during the corresponding period of last fiscal year. The foreign trade in the first six months of the current fiscal year is 54.86 percent more as compared to the foreign trade in the corresponding period of the last fiscal year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14399', 'image' => '20220123052534_Foreign Trade.jpg', 'article_date' => '2022-01-23 17:24:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14655', 'article_category_id' => '1', 'title' => 'Handicraft Business Slumps Again', 'sub_title' => '', 'summary' => 'January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19. The business was increasing despite lots of ups and downs in the last two years until the emergence of the Omicron variant.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Trade has slowed down due to the spread of the virus that caused problems in exporting goods to foreign countries. Export of handicraft items has been limited to 30 percent due to increasing rate of infection in different countries including Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">President of the Federation of Handicraft Association of Nepal, Surendra Bhai Shakya, said that the main reasons for the decline in exports were declining demand from foreign countries and increasing cargo fares.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the cargo fare has increased up to five times at present. It has become more difficult for traders to export goods due to increased fares when business is yet to pick up the momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There are more than 1,000 handicraft shops in Kathmandu, Bhaktapur and Lalitpur alone, according to the federation. Lately, all these stores have been affected by the Omicron virus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the handicraft business is directly connected with the tourism sector, the trade of handicraft items decreases as soon as the number of tourists coming to Nepal decreases. At present, even the tourism business has not been showing any development due to which the handicraft business is also facing problems.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About 30 percent of handicraft shops in Thamel, Asan, New Road and Basantapur areas of Kathmandu have been closed since the onset of the pandemic in Nepal, said President Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Federation, handicraft items worth Rs 6 billion are sold in Nepal's domestic market annually. However, the major markets for Nepali handicrafts are the United States, China and other European countries. Nepal exports handicraft products worth Rs 11 to 15 billion annually to these countries. About 1.1 million people including traders, entrepreneurs and workers are associated with this sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the federation says the annual turnover has not been even 5 billion for the past two years and more than 40 percent of the people have lost their jobs due to the impact of the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shakya emphasized on the need to increase the use and consumption of Nepali handicraft materials within the country itself as the business has slowed down due to the pandemic. He expressed the belief that it would be really convenient for the handicraft business even if only 30 percent of the 42 types of handicraft products produced in Nepal could be consumed within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Entrepreneurs have complained that the government of Nepal has shown indifference towards handicraft business and that they have had to suffer not only during the pandemic but at other times as well. The SAARC handicraft building constructed on three ropanis of land in Tripureshwor three years ago for the promotion and lab testing of Nepali handicrafts has also not been able to operate yet.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14398', 'image' => '20220123050319_20160802043332_meta.jpg', 'article_date' => '2022-01-23 17:02:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14654', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) has formed a joint monitoring team in collaboration with the Ministry of Land Management, Cooperatives and Poverty Alleviation and the Department of Cooperatives to monitor the cooperatives in view of increasing irregularities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government is under pressure to make the monitoring of cooperatives effective as the civil cooperatives with a turnover of over eight billion rupees are facing problems recently. Service seekers of the cooperatives have started agitating in the streets demanding return of their savings.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to the lack of effective monitoring, big cooperatives are facing problems," said Jhalakram Adhikari, registrar of the Department of Cooperatives, adding, “So we are conducting extensive monitoring together with the central bank."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, extensive monitoring of large cooperatives was done back in 2010 with the involvement of NRB. The central bank had sent two deputy director-level staff for the monitoring done under the coordination of the Registrar of the Department. After 2014, the Department of Cooperatives has been monitoring the cooperatives alone but it has not been effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Cooperatives Act-2074 BS allows the central bank to monitor big cooperatives. Similarly, the Cooperatives Regulation-2075 also permits NRB to monitor the cooperatives with transactions more than Rs 500 million. However, NRB insists it cannot monitor the cooperatives but only cooperate with the Department of Cooperatives in the monitoring process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Federal Department of Cooperatives has initiated discussions on setting up a separate monitoring mechanism to make the regulation of cooperatives effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the jurisdiction of the cooperatives have been transferred to the state and local levels as per the provisions of the constitution, discussions have been started to form a monitoring mechanism with the participation of all the three levels due to vulnerability of the regulatory body, Adhikari said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Finance Minister Janardan Sharma had announced a separate mechanism to regulate cooperatives in the budget replacement bill. As per the provisions of the federal constitution, the rights of cooperatives have been transferred to the local level. Adhikari said that the mechanism could be set up with the participation of all three levels in respect to the spirit of federalism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At present, all three levels of government have been regulating cooperatives to the best of their ability. However, irregularities have not been brought under control.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14397', 'image' => '20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-01-23 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14653', 'article_category_id' => '1', 'title' => 'Influx of Domestic Tourists up in Khaptad after Snowfall', 'sub_title' => '', 'summary' => 'January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. ', 'content' => '<p><em>This photo posted on social media shows snow-clad hills of Khaptad. Photo Courtesy: Dipak B Khadka.</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The green meadow and high hills surrounding Khaptad have been clad with over a feet snow attracting nature lovers, informed the officials of Khaptad National Park at Jhigrana. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Around 12 to 15 domestic tourists visit Khaptad on an average day. The number of visitors shoot up during snowfall, which occurred last time almost three weeks ago on December 29. Although the risk of COVID-19 persist in the district, tourists have been visiting the place to play with snow and enjoy the beauty of the snow-clad hills and meadows, said Hiralal Saun, a local. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has stopped and sunshine makes easier for the tourists to visit the place at noon, Saun said. Due to snowfall, Khaptad, which is also a protected conservation area, has witnessed an increase in cold making it difficult for the locals for outdoor movement. Farmers are, however, elated with snowfall hoping that they can yield good harvest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deepak Bahadur Khadka, a home-stay proprietor at Jhigrana, shared that the snowy view of the hills and meadows here serves as a feast for the eyes to nature and adventure lovers who have to trek to reach here. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over 4,000 domestic tourists have visited Khaptad since mid-April last year, the Khaptad National Park Office said. <em>(With inputs from RSS) </em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14396', 'image' => '20220123125240_FJD4KpyaQAkqLPh (1).jpg', 'article_date' => '2022-01-23 12:49:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14652', 'article_category_id' => '1', 'title' => '33% Households at Risk of Falling into Poverty due to COVID-19: Survey', 'sub_title' => '', 'summary' => 'January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread.', 'content' => '<p><em> Photo Courtesy: UNICEF </em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread. Since March 2020, Nepal has also imposed restrictions on movements and lockdowns, which inevitably led to social and economic hardships such as job loss, disruptions in public services, and limited access to healthcare and education. These visible impacts of the pandemic include a range of multiple issues that children had to face such as losing access to education and compromising their diets due to their caregivers' food insecurity and job losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A significant percentage of population in Nepal remains at risk of falling into poverty, a nationwide remote survey entitled ‘Tracking Socio-Economic Impacts of COVID 19 on Children and Families in Nepal’ states. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey conducted by Sharecast Initiative Nepal in collaboration with UNICEF demonstrated key developments in the lives of the households with children since May 2020. It has revealed that July 2020 recorded more than 60 percent of the households with children lost income and livelihood. Although the percentage of the households with livelihood and income loss has been decreasing substantially since then, a significant percentage of population remains at risk of falling into poverty. As of November 2021, 33 percent of households were at risk of poverty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey was conducted to understand the evolving situation of households with children during the pandemic. Starting from its inception in May 2020, UNICEF and Sharecast Initiative Nepal conducted eight rounds of surveys to monitor and track changes in more than 6,000 households’ livelihood, WASH, and children’s access to education, including food intake and healthcare of children, breastfeeding and pregnant mothers, shared Chief Executive Officer of Sharecast Initiative, Madhu Acharya. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, major emerging needs of families in the pandemic were reportedly financial assistance, food and employment. The survey showed that families continue to incur debt and deplete assets as a coping mechanism. Around 60 percent of parents were found confident about sending their children back to school and 80 percent felt that their children were lagging behind in studies. A total of 21 percent of households with children struggled to obtain enough food in November 2021, the survey revealed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nearly 10 percent of these households reduced dietary intake of their children. Likewise, 15 percent of the respondents reported witnessing violence against women and children was increasing. Roughly, 10 percent of respondents also reported witnessing child labour. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the findings of the survey, 84 percent of respondents wore masks to protect themselves from Covid-19 and 71 percent of the respondents were vaccinated in November 2021. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14395', 'image' => '20220123120815_IMG_0015.jpg', 'article_date' => '2022-01-23 12:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14651', 'article_category_id' => '1', 'title' => 'Gautam Buddha Airport Requires more than 2 Dozen Staff Immediately', 'sub_title' => '', 'summary' => 'January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. The airport is gearing up for calibration flights and then regular flights subsequently. The Civil Aviation Authority of Nepal (CAAN) has appointed a Managing Director (MD) for the operation and management of the airport. The airport has witnessed 99 percent progress in construction.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CAAN appointed Govinda Prasad Dahal as the managing director of Gautam Buddha Airport on January 20. Dahal arrived at the airport on January 16. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The airport requires 151 employees for operation. Currently, 34 employees including the managing director, have been appointed. The Central Office of CAAN is recruiting staff from internal sources and open competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Newly-appointed managing director Dahal said that a maximum of 30 employees would be needed immediately, though not all of them now. He said that there was an urgent need for staff in the fields of radio, mechanical, computer and fire departments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the calibration flight will be done soon at the airport, it is necessary to immediately appoint staff.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He informed that the Aero Thai team is preparing to come to Nepal on Saturday, January 22 for the calibration flight. The authority has reached an agreement with the Thai company for a calibration flight at the airport. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Construction of Gautam Buddha Airport was started seven years ago. The concerned authorities have already spent Rs 22 billion on compensation for acquiring lands. Regarding the equipment and construction, only Rs 2 billion remains to be paid. After waiting for nearly six and a half decades, Nepal is all set to operate Gautam Buddha Airport as the country’s second international airport.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, due to the Covid-19 crisis, the completion of the airport has been delayed, and now the date of the test and calibration flight has been postponed. It is yet to be decided whether the airport, which is in the final stages of construction, will be operated by the CAAN itself or handed over to the private sector. CAAN has said that it is doing homework on the modalities of airport operation.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14394', 'image' => '20220121071013_gautam-buddha-international-airport-blueprint-1536x629.jpg', 'article_date' => '2022-01-21 13:42:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14650', 'article_category_id' => '1', 'title' => 'Economy in Crisis Again', 'sub_title' => '', 'summary' => 'January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget. According to the statistics of the Ministry of Finance, the capital expenditure is pitiful and the current programmes announced in the budget have not been implemented for a long time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Financial Comptroller General Office, the government expenditure is pathetic. In the last six months, the government has met only 31 percent of its annual target. As the pandemic resurfaces again, the government is expecting a slump in revenue collection as well as expenditure, and other challenges in meeting the annual target.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association said that development expenditure is low not only because of the current situation created by the pandemic but also due to the government's policy and the shortage of liquidity. The development activities can be accelerated if the government releases the deposit amount collected as collateral from the contractors, argues Singh. Such an amount totals Rs 30 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh shared that if the mobilization payment system is maintained at 20 percent, the cycle of economy will be better and construction work can be expedited. The rise in COVID cases has impeded development projects. The projects that were affected by the pandemic for the last two years will be further affected by the latest Omicron variant. Omicron is expected to affect 2772 development projects across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government has not paid any attention to the implementation of the programmes announced in the current budget. Distributing cash relief to poor families is one of many such programmes. This affects the economy on one hand and jeopardizes the public trust on the other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, providing concessional loans to startup businesses have not been implemented though this programme has been included in the budget for the last ten years. The Ministry of Finance and the National Planning Commission have been reiterating that the work procedures are being formulated but it has never gone into implementation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ritesh Kumar Shakya, joint secretary at the Ministry of Finance, informed that the work procedure is taking time and the programme will be implemented as soon as the work is completed. Likewise, the government has introduced the Prime Minister's Employment Programme to provide employment to those who lost their jobs due to the pandemic. But the condition of this programme is awful. A total of 700,000 people had applied for this employment programme but only 6,000 have received employment in the current fiscal year </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The poor implementation of the budget is risking the economic growth rate set for the current fiscal year. The World Bank report had revised the growth rate and brought it down to 3.9 percent. The sectors that influence economic growth are once again bearing the brunt of the pandemic. Hotel Bookings are being canceled. Various five-star hotels, including Soaltee, Everest Hotel, Hotel Yak & Yeti, Hyatt, Marriott, Aloft, Radisson, Hyatt Place, have reported about cancellation of rooms and banquet hall bookings. According to the Baneshwor-based Everest Hotel, the occupancy rate is only seven percent at the moment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The real estate business is also in recession. More than 2500 houses and lands used to be bought/sold in Lagankhel, Bhaktapur and other places of the Kathmandu Valley. The number has significantly gone down. The real estate business has slowed down for the past three months. The interest rate of loans taken by entrepreneurs has increased to twelve to thirteen percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Real estate entrepreneur Dinesh Lal Chuke said the real estate business in the country has also slowed down like in the international market. The shortage of lendable funds in the banking system has impeded the growth of the economy. The loan-to-deposit ratio of financial institutions has increased to 90. Earlier, the CD ratio had increased to 91.49 percent on November 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the recent provision of the Nepal Rastra Bank (NRB) to open LCs for import of goods since December, and the provision set by the Ministry of Finance to use up to 80 percent of the local level funds for CD calculations, had eased the CD ratio to 89.29 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, said that the liquidity crisis is set to improve as the central bank is working on it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to experts, the government should prevent the economic crisis by increasing external debt and grants along with the increase in capital expenditure. Bimal Koirala, former Chief Secretary, argued the government announces ambitious plans through policies and programmes but do nothing to achieve the goals which is hitting the economic indicators.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14393', 'image' => '20220121013137_Untitled.jpg', 'article_date' => '2022-01-21 13:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14649', 'article_category_id' => '1', 'title' => 'Government Preparing to Adjust Price of Milk ', 'sub_title' => '', 'summary' => 'January 21: The government is preparing to adjust the price of milk and dairy products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government is preparing to adjust the price of milk and dairy products.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development is planning to adjust the price of milk upon the recommendation of a committee formed to carry out a study regarding the price adjustment of dairy products. The ministry had formed the committee after the Central Dairy Cooperative Association Limited Nepal requested for increasing the price of milk arguing that they were not getting even the cost of investment by selling milk at its current price. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the farmers are compelled to sell milk bearing loss because the price of milk has remained stable for two and half years whereas the price of animal feed and fodder has sky-rocketed during the same period. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the price of milk used to be adjusted every year in the past, it has not happened for the past two and half years. Farmers have been selling milk at Rs 53 per litre currently. The report states that the farmers bear loss of Rs 4 per litre when they sell milk at the current rate. It is stated in the report that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report recommends increasing the price of milk by Rs 10 per litre. The consumers have to pay Rs 76 per litre at present. If the price is adjusted as per the committee's recommendation, the farmers will get Rs 60 per litre while the consumers will have to buy a litre of milk for Rs 86. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Out of the increased rate of Rs 10 per litre, the farmers will get Rs 7 while the dairy entrepreneur will get Rs 3. The farmers will make a profit of Rs 3 per litre after deducting the investment price after the implementation of the new price based on the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee prepared the report after consulting with the dairy farmers and dairy entrepreneurs in Ilam, Jhapa, Sunsari, Morang, Saptari, Sarlahi, Bara, Makawanpur, Kavre, Chitwan, Nawalparasi, Rupandehi, Kaski, Banke, Surkhet, Kailali and Kanchanpur districts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The dairy industry contributes 5 percent to the GDP of the country. The annual milk production in the country has reached 2.3 million tonnes. Forty percent of this production is cow milk and 60 percent is buffalo milk. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14392', 'image' => '20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-01-21 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14648', 'article_category_id' => '1', 'title' => 'Odd and Even System for Vehicles in Kathmandu Valley from Tonight ', 'sub_title' => '', 'summary' => 'January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Chief District Officer of Kathmandu, Suprabha Khanal Dhungel, shared that an order has been issued to operate public and private vehicles (including two-wheelers) with odd registration number on odd days and even registration number on even days in Kathmandu Valley. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The order also stipulates that public transport should not have more passengers than the seat capacity, all passengers should be required to wear masks, and sanitizers should be provided at the door of the vehicle and inside the vehicle. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the order further states that the head of the office will be responsible to make arrangements for proper management of the service in all the public and government offices in the district. <em>(With inputs from RSS)</em></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14391', 'image' => '20220121120258_20210804111341_20200903113103_1599056781.jpg', 'article_date' => '2022-01-21 12:02:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14647', 'article_category_id' => '1', 'title' => 'Foreign Reinsurance Companies Increase Premium Rates', 'sub_title' => '', 'summary' => 'January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. The pandemic has not only led to a rise in the claims but the revenue of insurance companies has also declined. Also, the insurance business has slumped, making insurance companies increase premium rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Foreign insurance and reinsurance companies do not invest much in bank deposits as in Nepal. The scope of their investment is wider. Their investment areas have been affected by the pandemic leading to decline in their revenue.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition, the pandemic has increased mortality rates in most countries, resulting in increased mortality claims for insurance companies. That's why reinsurance companies have raised premium rates, experts say.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Besides, climate change is inviting major natural disasters, such as tsunamis, storms, landslides, floods, in almost all parts of the world. Such natural disasters have caused extensive damage to various projects, infrastructure and physical assets around the world and led to a rise in insurance claims.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the insurance business has not increased accordingly. In view of the current circumstances, foreign reinsurance companies have increased the premium rate, experts said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Damodar Bhandari, assistant chief executive officer of Nepal Reinsurance Company, admits that companies have increased premium rates due to the pandemic and climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The pandemic has reduced the volume of revenue of reinsurance companies. On top of that, the claim ratio has increased due to the pandemic and climate change. But, business did not increase in the same ratio," he said, “Therefore, foreign reinsurance companies have increased the premium rate. The ratio of transferring risk through retrocession has also become more expensive."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the rating of some reinsurance companies has shrunk. The rating of Indian reinsurance company GIC dropped from minus A to triple B. According to Bhadari when the foreign companies increase the premium rate, the insurance (life / non-life) done by the general people will become more expensive in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“When the reinsurance companies raise premium rates, insurance companies must increase fees they charge on customers,” he said, "When the premium gets dearer, the number of prospective insurers will go down."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the conditions set by the foreign reinsurance companies may be stricter than before. It is not as simple as before to reinsure in the international market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chunky Chhetri, president of the Nepal Insurers Association, also informed that the international reinsurance companies have increased the premium rate. "There has been a rise in incidents of floods and landslides leading to a rise in engineering insurance claims in the country,” said Chhetri, “But business has not increased at the same rate.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Poshak Poudel, vice president of Life Insurers Association, said that insurance might be dearer in the country due to a rise in premium in the international market.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14390', 'image' => '20220120021710_20191023114923_aaaaa.jpg', 'article_date' => '2022-01-20 14:16:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14646', 'article_category_id' => '1', 'title' => 'Small Businessmen Worried about Increasing Impact of Covid-19', 'sub_title' => '', 'summary' => 'January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises. In the last few days, the number of infected people has been increasing at an alarming rate. As the number of infected people is increasing, the number of customers buying goods in small shops and shopping malls has been declining as well. This has caused a decline in trade as well, adding to the concerns of SMEs businessmen.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders are fearful of lockdown after the government has started imposing strict rules to keep the infection in check. They have been tormented for the past two years due to the lockdown and restrictions time and again to curb the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some of the small traders have already left their business due to the restrictions imposed by the government while the rest have not been able to pay the rent and interest on loans taken from banks. The panic among the traders has increased as the infection rate of Omicron has started increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, the president of National Entrepreneurs Federation of Nepal, an association of small and medium traders, said that the recent situation of Omicron has caused great panic among the traders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders have already been handicapped by the past restrictions. He said that the traders are not in a position to face the same situation again. Instead, he said, the business should be run smoothly by following the criteria set by the Ministry of Health and Population.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of customers shopping in shopping malls and other shops has decreased as the number of infected people is increasing. According to Sushma Mahara, treasurer of Nepal Chamber of Commerce and Industry, Kathmandu, the number of customers visiting shopping malls has dropped sharply after the government imposed the rule that no more than 25 people can gather in a place.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">She said that as the number of customers decreased, more than half of the employees working in the shop had to be given leave and stay at home.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Concerned authorities point out that traders will have to resort to other alternatives if they have to face the lockdown again. Small and medium enterprises contribute about 22 percent to the country's GDP and employ more than 1.7 million people.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14389', 'image' => '20220120015243_20200524072335_SMES.jpg', 'article_date' => '2022-01-20 13:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14660', 'article_category_id' => '1', 'title' => ' DoR to Sign Contract for Construction of Gwarko Flyover Soon', 'sub_title' => '', 'summary' => 'January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road. The department is signing a contract to complete the flyover within the next two years under the Engineering Procurement Construction (EPC) model.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Department of Roads had issued a tender last June to construct a four-lane flyover at Gwarko Chowk.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Prabhat Kumar Jha, director of the Center for Quality, Research and Development under the department, an agreement will be signed with the joint venture company, as it offered the lowest bid. The company will be awarded a contract worth Rs 170 million within the next two weeks to construct the flyover.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The flyover in Gwarko is in the process of agreement," Jha said. "We have submitted a proposal to the finance ministry for financial assurance for flyovers in Satdobato and Ekantakuna." The department has already studied and designed the flyover to be built at Ekantakuna and Satdobato along the Ring Road. He added that these flyovers will also be constructed in the EPC system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Finance is preparing to call for a bid to construct these two flyovers in the current fiscal year if the financial resources are secured. Similarly, studies have been completed for the flyovers to be constructed at Gaushala and Koteshwar while a study is being done for a flyover to be constructed at Baneshwor, said Jha. The flyover project, which has been under discussion for a long time, has moved ahead as increasing number of vehicles has made traffic management more challenging in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although it is termed as a flyover, the department has designed a 35-meter bridge of simple type, not a complex structure like in developed countries. However, the final design will be prepared by the construction company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Kalanki-Koteshwor section of the Ring Road has been upgraded to eight lanes with the help of the Chinese government. The government has allocated Rs 340 million for flyovers in the current fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14403', 'image' => '20220124074154_20200925021204_1600988628.Clipboard13.jpg', 'article_date' => '2022-01-24 19:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14659', 'article_category_id' => '1', 'title' => 'Insurance Board to Fix Districts for Insurance Companies to Conduct Literacy Programmes', 'sub_title' => '', 'summary' => 'January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. The board had earlier fixed certain districts for non-life insurance companies to launch agriculture insurance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board will issue directives at the earliest to non-life insurance companies in this regard. Non-life insurance companies will be instructed to conduct insurance literacy programme in the same districts where they are conducting agricultural insurance programmes while the board is working to fix the districts for life insurance companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the board, life insurance companies are required to conduct literacy programmes related to life insurance while non-life insurance companies have to conduct literacy programmes related to non-life insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajuraman Poudel, CEO of the Insurance Board, said that the insurance companies are being assigned districts and directives will be issued in the next few days.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are introducing such a provision to make insurance literacy effective. Non-life insurance companies will conduct programmes in the same district where they have conducted agricultural insurance programmes,” he said, adding, “The new provision will be enforced immediately for non-life insurance companies." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The expenses incurred during these programmes can be kept under the heading of corporate social responsibility. The board expects these programmes will increase access to insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Currently, the board itself has been conducting insurance literacy and interaction programmes at the local levels. The board believes it would be more effective if insurance companies start conducting literacy programmes at district level themselves, Poudel said.</span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14402', 'image' => '20220124055808_Insurance board.jpg', 'article_date' => '2022-01-24 17:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14658', 'article_category_id' => '1', 'title' => 'Tourist Arrival Slumps in Annapurna Circuit Again', 'sub_title' => '', 'summary' => 'January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days. Tourism entrepreneurs are greatly concerned about the declining number of tourists along the Annapurna Circuit, which is considered as one of the most important tourist destinations in the world tourism market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of tourists visiting the Annapurna Circuit has reduced to almost zero since the last ten days. The main reason for decline in the number of tourists is the increasing risk of Covid-19 alongside fall in temperature resulting in extreme cold in this region. Tourism entrepreneurs say that their source of income has come to a halt due to non-arrival of tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bahadur Gurung, a tourism assistant at the Annapurna Conservation Area Project (ACAP) Tourist Inspection Center, Dharapani, said that the number of tourists has sharply declined in recent times. The Annapurna Circuit used to receive 50-60 tourists daily after a decline in the rate of Covid-19 infections. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The tourist destination, which recently started to recover from the slump caused by the Covid-19 is about to face the hardship again. It is uncertain until when the Covid-19 is going to last. But if the circuit does not get operational for a long time, the tourism entrepreneurs have to face a great loss,” said Gurung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">More than 35,000 tourists visit this circuit in an annual basis. The main source of income for most of these tourism entrepreneurs is tourists. But with the decline in tourist arrivals in the circuit due to the Covid-19, the tourism entrepreneurs fear they will not have any income, which will make it difficult for the family to make ends meet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Pachh Bahadur Gurung of Lamjung Marshyangdi Rural Municipality-4 Jagat, a tourism entrepreneur in Annapurna Circuit, said, “We used to earn 30-40 thousand rupees daily when there was a good number of tourists, but now the income has become zero due to decline in the number of tourists.”</span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14401', 'image' => '20220124011859_10-UTL-Landing-Pg-2400x1600.jpg', 'article_date' => '2022-01-24 13:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14657', 'article_category_id' => '1', 'title' => 'NRB Warns of Action against Anyone Involved in Virtual Currency, Networking Business ', 'sub_title' => '', 'summary' => 'January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency and networking.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency/cryptocurrency and networking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Sunday, the central bank said anyone found involved in the business of cryptocurrency such as Hyper Fund and pyramid-based networking like Jocial, Crowd1, Solemax and Global would be punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Virtual currency is not given legal recognition in Nepal. So, the people can be defrauded by such virtual currency and networking. It also leads to illegal capital outflow," the NRB said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank added that any foreigner or Nepali national found involved in this illegal act within the country or abroad as well as Nepali citizens residing in foreign countries would be punished as per the existing laws. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14400', 'image' => '20220124113853_Pyramidschemeee23.jpg', 'article_date' => '2022-01-24 11:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14656', 'article_category_id' => '1', 'title' => 'Country's Imports Exceed Rs 999 Billion in First 6 Months of Current FY ', 'sub_title' => '', 'summary' => 'January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year. The country imported goods and services worth Rs 999.34 billion and exported goods and services worth Rs 118.85 billion in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imported goods from 141 countries and the largest import was from India. Imports from India were worth Rs 603.54 billion during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade statistics of the first six months of the current fiscal year (FY 2021/22) released by the Department of Customs shows that the import increased by 59.13 percent while the export went up by 955.48 percent during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The import in the first six months of the last fiscal year (FY 2020/21) stood at Rs 661.24 billion. Although the export is increasing, the import is growing exponentially thereby leading to a heightening trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade deficit increased by 46.64 percent in the first six months of the current fiscal year to reach Rs 880.49 billion. The trade deficit in the same period of last fiscal year was Rs 600.44 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the country’s overall foreign trade was worth Rs 1.11 trillion in the first six months of the current fiscal year while it was Rs 722.45 billion during the corresponding period of last fiscal year. The foreign trade in the first six months of the current fiscal year is 54.86 percent more as compared to the foreign trade in the corresponding period of the last fiscal year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14399', 'image' => '20220123052534_Foreign Trade.jpg', 'article_date' => '2022-01-23 17:24:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14655', 'article_category_id' => '1', 'title' => 'Handicraft Business Slumps Again', 'sub_title' => '', 'summary' => 'January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19. The business was increasing despite lots of ups and downs in the last two years until the emergence of the Omicron variant.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Trade has slowed down due to the spread of the virus that caused problems in exporting goods to foreign countries. Export of handicraft items has been limited to 30 percent due to increasing rate of infection in different countries including Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">President of the Federation of Handicraft Association of Nepal, Surendra Bhai Shakya, said that the main reasons for the decline in exports were declining demand from foreign countries and increasing cargo fares.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the cargo fare has increased up to five times at present. It has become more difficult for traders to export goods due to increased fares when business is yet to pick up the momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There are more than 1,000 handicraft shops in Kathmandu, Bhaktapur and Lalitpur alone, according to the federation. Lately, all these stores have been affected by the Omicron virus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the handicraft business is directly connected with the tourism sector, the trade of handicraft items decreases as soon as the number of tourists coming to Nepal decreases. At present, even the tourism business has not been showing any development due to which the handicraft business is also facing problems.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About 30 percent of handicraft shops in Thamel, Asan, New Road and Basantapur areas of Kathmandu have been closed since the onset of the pandemic in Nepal, said President Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Federation, handicraft items worth Rs 6 billion are sold in Nepal's domestic market annually. However, the major markets for Nepali handicrafts are the United States, China and other European countries. Nepal exports handicraft products worth Rs 11 to 15 billion annually to these countries. About 1.1 million people including traders, entrepreneurs and workers are associated with this sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the federation says the annual turnover has not been even 5 billion for the past two years and more than 40 percent of the people have lost their jobs due to the impact of the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shakya emphasized on the need to increase the use and consumption of Nepali handicraft materials within the country itself as the business has slowed down due to the pandemic. He expressed the belief that it would be really convenient for the handicraft business even if only 30 percent of the 42 types of handicraft products produced in Nepal could be consumed within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Entrepreneurs have complained that the government of Nepal has shown indifference towards handicraft business and that they have had to suffer not only during the pandemic but at other times as well. The SAARC handicraft building constructed on three ropanis of land in Tripureshwor three years ago for the promotion and lab testing of Nepali handicrafts has also not been able to operate yet.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14398', 'image' => '20220123050319_20160802043332_meta.jpg', 'article_date' => '2022-01-23 17:02:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14654', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) has formed a joint monitoring team in collaboration with the Ministry of Land Management, Cooperatives and Poverty Alleviation and the Department of Cooperatives to monitor the cooperatives in view of increasing irregularities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government is under pressure to make the monitoring of cooperatives effective as the civil cooperatives with a turnover of over eight billion rupees are facing problems recently. Service seekers of the cooperatives have started agitating in the streets demanding return of their savings.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to the lack of effective monitoring, big cooperatives are facing problems," said Jhalakram Adhikari, registrar of the Department of Cooperatives, adding, “So we are conducting extensive monitoring together with the central bank."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, extensive monitoring of large cooperatives was done back in 2010 with the involvement of NRB. The central bank had sent two deputy director-level staff for the monitoring done under the coordination of the Registrar of the Department. After 2014, the Department of Cooperatives has been monitoring the cooperatives alone but it has not been effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Cooperatives Act-2074 BS allows the central bank to monitor big cooperatives. Similarly, the Cooperatives Regulation-2075 also permits NRB to monitor the cooperatives with transactions more than Rs 500 million. However, NRB insists it cannot monitor the cooperatives but only cooperate with the Department of Cooperatives in the monitoring process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Federal Department of Cooperatives has initiated discussions on setting up a separate monitoring mechanism to make the regulation of cooperatives effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the jurisdiction of the cooperatives have been transferred to the state and local levels as per the provisions of the constitution, discussions have been started to form a monitoring mechanism with the participation of all the three levels due to vulnerability of the regulatory body, Adhikari said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Finance Minister Janardan Sharma had announced a separate mechanism to regulate cooperatives in the budget replacement bill. As per the provisions of the federal constitution, the rights of cooperatives have been transferred to the local level. Adhikari said that the mechanism could be set up with the participation of all three levels in respect to the spirit of federalism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At present, all three levels of government have been regulating cooperatives to the best of their ability. However, irregularities have not been brought under control.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14397', 'image' => '20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-01-23 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14653', 'article_category_id' => '1', 'title' => 'Influx of Domestic Tourists up in Khaptad after Snowfall', 'sub_title' => '', 'summary' => 'January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. ', 'content' => '<p><em>This photo posted on social media shows snow-clad hills of Khaptad. Photo Courtesy: Dipak B Khadka.</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The green meadow and high hills surrounding Khaptad have been clad with over a feet snow attracting nature lovers, informed the officials of Khaptad National Park at Jhigrana. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Around 12 to 15 domestic tourists visit Khaptad on an average day. The number of visitors shoot up during snowfall, which occurred last time almost three weeks ago on December 29. Although the risk of COVID-19 persist in the district, tourists have been visiting the place to play with snow and enjoy the beauty of the snow-clad hills and meadows, said Hiralal Saun, a local. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has stopped and sunshine makes easier for the tourists to visit the place at noon, Saun said. Due to snowfall, Khaptad, which is also a protected conservation area, has witnessed an increase in cold making it difficult for the locals for outdoor movement. Farmers are, however, elated with snowfall hoping that they can yield good harvest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deepak Bahadur Khadka, a home-stay proprietor at Jhigrana, shared that the snowy view of the hills and meadows here serves as a feast for the eyes to nature and adventure lovers who have to trek to reach here. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over 4,000 domestic tourists have visited Khaptad since mid-April last year, the Khaptad National Park Office said. <em>(With inputs from RSS) </em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14396', 'image' => '20220123125240_FJD4KpyaQAkqLPh (1).jpg', 'article_date' => '2022-01-23 12:49:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14652', 'article_category_id' => '1', 'title' => '33% Households at Risk of Falling into Poverty due to COVID-19: Survey', 'sub_title' => '', 'summary' => 'January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread.', 'content' => '<p><em> Photo Courtesy: UNICEF </em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread. Since March 2020, Nepal has also imposed restrictions on movements and lockdowns, which inevitably led to social and economic hardships such as job loss, disruptions in public services, and limited access to healthcare and education. These visible impacts of the pandemic include a range of multiple issues that children had to face such as losing access to education and compromising their diets due to their caregivers' food insecurity and job losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A significant percentage of population in Nepal remains at risk of falling into poverty, a nationwide remote survey entitled ‘Tracking Socio-Economic Impacts of COVID 19 on Children and Families in Nepal’ states. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey conducted by Sharecast Initiative Nepal in collaboration with UNICEF demonstrated key developments in the lives of the households with children since May 2020. It has revealed that July 2020 recorded more than 60 percent of the households with children lost income and livelihood. Although the percentage of the households with livelihood and income loss has been decreasing substantially since then, a significant percentage of population remains at risk of falling into poverty. As of November 2021, 33 percent of households were at risk of poverty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey was conducted to understand the evolving situation of households with children during the pandemic. Starting from its inception in May 2020, UNICEF and Sharecast Initiative Nepal conducted eight rounds of surveys to monitor and track changes in more than 6,000 households’ livelihood, WASH, and children’s access to education, including food intake and healthcare of children, breastfeeding and pregnant mothers, shared Chief Executive Officer of Sharecast Initiative, Madhu Acharya. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, major emerging needs of families in the pandemic were reportedly financial assistance, food and employment. The survey showed that families continue to incur debt and deplete assets as a coping mechanism. Around 60 percent of parents were found confident about sending their children back to school and 80 percent felt that their children were lagging behind in studies. A total of 21 percent of households with children struggled to obtain enough food in November 2021, the survey revealed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nearly 10 percent of these households reduced dietary intake of their children. Likewise, 15 percent of the respondents reported witnessing violence against women and children was increasing. Roughly, 10 percent of respondents also reported witnessing child labour. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the findings of the survey, 84 percent of respondents wore masks to protect themselves from Covid-19 and 71 percent of the respondents were vaccinated in November 2021. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14395', 'image' => '20220123120815_IMG_0015.jpg', 'article_date' => '2022-01-23 12:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14651', 'article_category_id' => '1', 'title' => 'Gautam Buddha Airport Requires more than 2 Dozen Staff Immediately', 'sub_title' => '', 'summary' => 'January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. The airport is gearing up for calibration flights and then regular flights subsequently. The Civil Aviation Authority of Nepal (CAAN) has appointed a Managing Director (MD) for the operation and management of the airport. The airport has witnessed 99 percent progress in construction.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CAAN appointed Govinda Prasad Dahal as the managing director of Gautam Buddha Airport on January 20. Dahal arrived at the airport on January 16. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The airport requires 151 employees for operation. Currently, 34 employees including the managing director, have been appointed. The Central Office of CAAN is recruiting staff from internal sources and open competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Newly-appointed managing director Dahal said that a maximum of 30 employees would be needed immediately, though not all of them now. He said that there was an urgent need for staff in the fields of radio, mechanical, computer and fire departments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the calibration flight will be done soon at the airport, it is necessary to immediately appoint staff.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He informed that the Aero Thai team is preparing to come to Nepal on Saturday, January 22 for the calibration flight. The authority has reached an agreement with the Thai company for a calibration flight at the airport. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Construction of Gautam Buddha Airport was started seven years ago. The concerned authorities have already spent Rs 22 billion on compensation for acquiring lands. Regarding the equipment and construction, only Rs 2 billion remains to be paid. After waiting for nearly six and a half decades, Nepal is all set to operate Gautam Buddha Airport as the country’s second international airport.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, due to the Covid-19 crisis, the completion of the airport has been delayed, and now the date of the test and calibration flight has been postponed. It is yet to be decided whether the airport, which is in the final stages of construction, will be operated by the CAAN itself or handed over to the private sector. CAAN has said that it is doing homework on the modalities of airport operation.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14394', 'image' => '20220121071013_gautam-buddha-international-airport-blueprint-1536x629.jpg', 'article_date' => '2022-01-21 13:42:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14650', 'article_category_id' => '1', 'title' => 'Economy in Crisis Again', 'sub_title' => '', 'summary' => 'January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget. According to the statistics of the Ministry of Finance, the capital expenditure is pitiful and the current programmes announced in the budget have not been implemented for a long time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Financial Comptroller General Office, the government expenditure is pathetic. In the last six months, the government has met only 31 percent of its annual target. As the pandemic resurfaces again, the government is expecting a slump in revenue collection as well as expenditure, and other challenges in meeting the annual target.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association said that development expenditure is low not only because of the current situation created by the pandemic but also due to the government's policy and the shortage of liquidity. The development activities can be accelerated if the government releases the deposit amount collected as collateral from the contractors, argues Singh. Such an amount totals Rs 30 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh shared that if the mobilization payment system is maintained at 20 percent, the cycle of economy will be better and construction work can be expedited. The rise in COVID cases has impeded development projects. The projects that were affected by the pandemic for the last two years will be further affected by the latest Omicron variant. Omicron is expected to affect 2772 development projects across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government has not paid any attention to the implementation of the programmes announced in the current budget. Distributing cash relief to poor families is one of many such programmes. This affects the economy on one hand and jeopardizes the public trust on the other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, providing concessional loans to startup businesses have not been implemented though this programme has been included in the budget for the last ten years. The Ministry of Finance and the National Planning Commission have been reiterating that the work procedures are being formulated but it has never gone into implementation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ritesh Kumar Shakya, joint secretary at the Ministry of Finance, informed that the work procedure is taking time and the programme will be implemented as soon as the work is completed. Likewise, the government has introduced the Prime Minister's Employment Programme to provide employment to those who lost their jobs due to the pandemic. But the condition of this programme is awful. A total of 700,000 people had applied for this employment programme but only 6,000 have received employment in the current fiscal year </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The poor implementation of the budget is risking the economic growth rate set for the current fiscal year. The World Bank report had revised the growth rate and brought it down to 3.9 percent. The sectors that influence economic growth are once again bearing the brunt of the pandemic. Hotel Bookings are being canceled. Various five-star hotels, including Soaltee, Everest Hotel, Hotel Yak & Yeti, Hyatt, Marriott, Aloft, Radisson, Hyatt Place, have reported about cancellation of rooms and banquet hall bookings. According to the Baneshwor-based Everest Hotel, the occupancy rate is only seven percent at the moment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The real estate business is also in recession. More than 2500 houses and lands used to be bought/sold in Lagankhel, Bhaktapur and other places of the Kathmandu Valley. The number has significantly gone down. The real estate business has slowed down for the past three months. The interest rate of loans taken by entrepreneurs has increased to twelve to thirteen percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Real estate entrepreneur Dinesh Lal Chuke said the real estate business in the country has also slowed down like in the international market. The shortage of lendable funds in the banking system has impeded the growth of the economy. The loan-to-deposit ratio of financial institutions has increased to 90. Earlier, the CD ratio had increased to 91.49 percent on November 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the recent provision of the Nepal Rastra Bank (NRB) to open LCs for import of goods since December, and the provision set by the Ministry of Finance to use up to 80 percent of the local level funds for CD calculations, had eased the CD ratio to 89.29 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, said that the liquidity crisis is set to improve as the central bank is working on it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to experts, the government should prevent the economic crisis by increasing external debt and grants along with the increase in capital expenditure. Bimal Koirala, former Chief Secretary, argued the government announces ambitious plans through policies and programmes but do nothing to achieve the goals which is hitting the economic indicators.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14393', 'image' => '20220121013137_Untitled.jpg', 'article_date' => '2022-01-21 13:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14649', 'article_category_id' => '1', 'title' => 'Government Preparing to Adjust Price of Milk ', 'sub_title' => '', 'summary' => 'January 21: The government is preparing to adjust the price of milk and dairy products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government is preparing to adjust the price of milk and dairy products.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development is planning to adjust the price of milk upon the recommendation of a committee formed to carry out a study regarding the price adjustment of dairy products. The ministry had formed the committee after the Central Dairy Cooperative Association Limited Nepal requested for increasing the price of milk arguing that they were not getting even the cost of investment by selling milk at its current price. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the farmers are compelled to sell milk bearing loss because the price of milk has remained stable for two and half years whereas the price of animal feed and fodder has sky-rocketed during the same period. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the price of milk used to be adjusted every year in the past, it has not happened for the past two and half years. Farmers have been selling milk at Rs 53 per litre currently. The report states that the farmers bear loss of Rs 4 per litre when they sell milk at the current rate. It is stated in the report that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report recommends increasing the price of milk by Rs 10 per litre. The consumers have to pay Rs 76 per litre at present. If the price is adjusted as per the committee's recommendation, the farmers will get Rs 60 per litre while the consumers will have to buy a litre of milk for Rs 86. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Out of the increased rate of Rs 10 per litre, the farmers will get Rs 7 while the dairy entrepreneur will get Rs 3. The farmers will make a profit of Rs 3 per litre after deducting the investment price after the implementation of the new price based on the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee prepared the report after consulting with the dairy farmers and dairy entrepreneurs in Ilam, Jhapa, Sunsari, Morang, Saptari, Sarlahi, Bara, Makawanpur, Kavre, Chitwan, Nawalparasi, Rupandehi, Kaski, Banke, Surkhet, Kailali and Kanchanpur districts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The dairy industry contributes 5 percent to the GDP of the country. The annual milk production in the country has reached 2.3 million tonnes. Forty percent of this production is cow milk and 60 percent is buffalo milk. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14392', 'image' => '20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-01-21 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14648', 'article_category_id' => '1', 'title' => 'Odd and Even System for Vehicles in Kathmandu Valley from Tonight ', 'sub_title' => '', 'summary' => 'January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Chief District Officer of Kathmandu, Suprabha Khanal Dhungel, shared that an order has been issued to operate public and private vehicles (including two-wheelers) with odd registration number on odd days and even registration number on even days in Kathmandu Valley. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The order also stipulates that public transport should not have more passengers than the seat capacity, all passengers should be required to wear masks, and sanitizers should be provided at the door of the vehicle and inside the vehicle. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the order further states that the head of the office will be responsible to make arrangements for proper management of the service in all the public and government offices in the district. <em>(With inputs from RSS)</em></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14391', 'image' => '20220121120258_20210804111341_20200903113103_1599056781.jpg', 'article_date' => '2022-01-21 12:02:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14647', 'article_category_id' => '1', 'title' => 'Foreign Reinsurance Companies Increase Premium Rates', 'sub_title' => '', 'summary' => 'January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. The pandemic has not only led to a rise in the claims but the revenue of insurance companies has also declined. Also, the insurance business has slumped, making insurance companies increase premium rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Foreign insurance and reinsurance companies do not invest much in bank deposits as in Nepal. The scope of their investment is wider. Their investment areas have been affected by the pandemic leading to decline in their revenue.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition, the pandemic has increased mortality rates in most countries, resulting in increased mortality claims for insurance companies. That's why reinsurance companies have raised premium rates, experts say.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Besides, climate change is inviting major natural disasters, such as tsunamis, storms, landslides, floods, in almost all parts of the world. Such natural disasters have caused extensive damage to various projects, infrastructure and physical assets around the world and led to a rise in insurance claims.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the insurance business has not increased accordingly. In view of the current circumstances, foreign reinsurance companies have increased the premium rate, experts said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Damodar Bhandari, assistant chief executive officer of Nepal Reinsurance Company, admits that companies have increased premium rates due to the pandemic and climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The pandemic has reduced the volume of revenue of reinsurance companies. On top of that, the claim ratio has increased due to the pandemic and climate change. But, business did not increase in the same ratio," he said, “Therefore, foreign reinsurance companies have increased the premium rate. The ratio of transferring risk through retrocession has also become more expensive."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the rating of some reinsurance companies has shrunk. The rating of Indian reinsurance company GIC dropped from minus A to triple B. According to Bhadari when the foreign companies increase the premium rate, the insurance (life / non-life) done by the general people will become more expensive in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“When the reinsurance companies raise premium rates, insurance companies must increase fees they charge on customers,” he said, "When the premium gets dearer, the number of prospective insurers will go down."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the conditions set by the foreign reinsurance companies may be stricter than before. It is not as simple as before to reinsure in the international market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chunky Chhetri, president of the Nepal Insurers Association, also informed that the international reinsurance companies have increased the premium rate. "There has been a rise in incidents of floods and landslides leading to a rise in engineering insurance claims in the country,” said Chhetri, “But business has not increased at the same rate.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Poshak Poudel, vice president of Life Insurers Association, said that insurance might be dearer in the country due to a rise in premium in the international market.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14390', 'image' => '20220120021710_20191023114923_aaaaa.jpg', 'article_date' => '2022-01-20 14:16:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14646', 'article_category_id' => '1', 'title' => 'Small Businessmen Worried about Increasing Impact of Covid-19', 'sub_title' => '', 'summary' => 'January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises. In the last few days, the number of infected people has been increasing at an alarming rate. As the number of infected people is increasing, the number of customers buying goods in small shops and shopping malls has been declining as well. This has caused a decline in trade as well, adding to the concerns of SMEs businessmen.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders are fearful of lockdown after the government has started imposing strict rules to keep the infection in check. They have been tormented for the past two years due to the lockdown and restrictions time and again to curb the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some of the small traders have already left their business due to the restrictions imposed by the government while the rest have not been able to pay the rent and interest on loans taken from banks. The panic among the traders has increased as the infection rate of Omicron has started increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, the president of National Entrepreneurs Federation of Nepal, an association of small and medium traders, said that the recent situation of Omicron has caused great panic among the traders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders have already been handicapped by the past restrictions. He said that the traders are not in a position to face the same situation again. Instead, he said, the business should be run smoothly by following the criteria set by the Ministry of Health and Population.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of customers shopping in shopping malls and other shops has decreased as the number of infected people is increasing. According to Sushma Mahara, treasurer of Nepal Chamber of Commerce and Industry, Kathmandu, the number of customers visiting shopping malls has dropped sharply after the government imposed the rule that no more than 25 people can gather in a place.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">She said that as the number of customers decreased, more than half of the employees working in the shop had to be given leave and stay at home.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Concerned authorities point out that traders will have to resort to other alternatives if they have to face the lockdown again. Small and medium enterprises contribute about 22 percent to the country's GDP and employ more than 1.7 million people.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14389', 'image' => '20220120015243_20200524072335_SMES.jpg', 'article_date' => '2022-01-20 13:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Department of Roads is all set to sign an agreement with Ashish-Parallel-Religare JV within two weeks to construct a flyover at Gwarko along the Kalanki-Koteshwor section of the Ring Road. The department is signing a contract to complete the flyover within the next two years under the Engineering Procurement Construction (EPC) model.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Department of Roads had issued a tender last June to construct a four-lane flyover at Gwarko Chowk.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to Prabhat Kumar Jha, director of the Center for Quality, Research and Development under the department, an agreement will be signed with the joint venture company, as it offered the lowest bid. The company will be awarded a contract worth Rs 170 million within the next two weeks to construct the flyover.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The flyover in Gwarko is in the process of agreement," Jha said. "We have submitted a proposal to the finance ministry for financial assurance for flyovers in Satdobato and Ekantakuna." The department has already studied and designed the flyover to be built at Ekantakuna and Satdobato along the Ring Road. He added that these flyovers will also be constructed in the EPC system.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Ministry of Finance is preparing to call for a bid to construct these two flyovers in the current fiscal year if the financial resources are secured. Similarly, studies have been completed for the flyovers to be constructed at Gaushala and Koteshwar while a study is being done for a flyover to be constructed at Baneshwor, said Jha. The flyover project, which has been under discussion for a long time, has moved ahead as increasing number of vehicles has made traffic management more challenging in the Kathmandu Valley.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although it is termed as a flyover, the department has designed a 35-meter bridge of simple type, not a complex structure like in developed countries. However, the final design will be prepared by the construction company.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Kalanki-Koteshwor section of the Ring Road has been upgraded to eight lanes with the help of the Chinese government. The government has allocated Rs 340 million for flyovers in the current fiscal year.</span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14403', 'image' => '20220124074154_20200925021204_1600988628.Clipboard13.jpg', 'article_date' => '2022-01-24 19:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14659', 'article_category_id' => '1', 'title' => 'Insurance Board to Fix Districts for Insurance Companies to Conduct Literacy Programmes', 'sub_title' => '', 'summary' => 'January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The Insurance Board, the regulatory body of insurance companies, is planning to assign the responsibility to insurance companies to conduct insurance literacy programmes in districts following a lack of interest among the companies to this end. The board had earlier fixed certain districts for non-life insurance companies to launch agriculture insurance. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The board will issue directives at the earliest to non-life insurance companies in this regard. Non-life insurance companies will be instructed to conduct insurance literacy programme in the same districts where they are conducting agricultural insurance programmes while the board is working to fix the districts for life insurance companies. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the board, life insurance companies are required to conduct literacy programmes related to life insurance while non-life insurance companies have to conduct literacy programmes related to non-life insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Rajuraman Poudel, CEO of the Insurance Board, said that the insurance companies are being assigned districts and directives will be issued in the next few days.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"We are introducing such a provision to make insurance literacy effective. Non-life insurance companies will conduct programmes in the same district where they have conducted agricultural insurance programmes,” he said, adding, “The new provision will be enforced immediately for non-life insurance companies." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The expenses incurred during these programmes can be kept under the heading of corporate social responsibility. The board expects these programmes will increase access to insurance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Currently, the board itself has been conducting insurance literacy and interaction programmes at the local levels. The board believes it would be more effective if insurance companies start conducting literacy programmes at district level themselves, Poudel said.</span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14402', 'image' => '20220124055808_Insurance board.jpg', 'article_date' => '2022-01-24 17:57:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14658', 'article_category_id' => '1', 'title' => 'Tourist Arrival Slumps in Annapurna Circuit Again', 'sub_title' => '', 'summary' => 'January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 24: The number of tourists visiting the Annapurna Circuit has declined in recent days. Tourism entrepreneurs are greatly concerned about the declining number of tourists along the Annapurna Circuit, which is considered as one of the most important tourist destinations in the world tourism market. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of tourists visiting the Annapurna Circuit has reduced to almost zero since the last ten days. The main reason for decline in the number of tourists is the increasing risk of Covid-19 alongside fall in temperature resulting in extreme cold in this region. Tourism entrepreneurs say that their source of income has come to a halt due to non-arrival of tourists.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Bahadur Gurung, a tourism assistant at the Annapurna Conservation Area Project (ACAP) Tourist Inspection Center, Dharapani, said that the number of tourists has sharply declined in recent times. The Annapurna Circuit used to receive 50-60 tourists daily after a decline in the rate of Covid-19 infections. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The tourist destination, which recently started to recover from the slump caused by the Covid-19 is about to face the hardship again. It is uncertain until when the Covid-19 is going to last. But if the circuit does not get operational for a long time, the tourism entrepreneurs have to face a great loss,” said Gurung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">More than 35,000 tourists visit this circuit in an annual basis. The main source of income for most of these tourism entrepreneurs is tourists. But with the decline in tourist arrivals in the circuit due to the Covid-19, the tourism entrepreneurs fear they will not have any income, which will make it difficult for the family to make ends meet. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Pachh Bahadur Gurung of Lamjung Marshyangdi Rural Municipality-4 Jagat, a tourism entrepreneur in Annapurna Circuit, said, “We used to earn 30-40 thousand rupees daily when there was a good number of tourists, but now the income has become zero due to decline in the number of tourists.”</span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14401', 'image' => '20220124011859_10-UTL-Landing-Pg-2400x1600.jpg', 'article_date' => '2022-01-24 13:18:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14657', 'article_category_id' => '1', 'title' => 'NRB Warns of Action against Anyone Involved in Virtual Currency, Networking Business ', 'sub_title' => '', 'summary' => 'January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency and networking.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 24: Nepal Rastra Bank (NRB) has warned of action against those involved in the business of virtual currency/cryptocurrency and networking.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Sunday, the central bank said anyone found involved in the business of cryptocurrency such as Hyper Fund and pyramid-based networking like Jocial, Crowd1, Solemax and Global would be punished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Virtual currency is not given legal recognition in Nepal. So, the people can be defrauded by such virtual currency and networking. It also leads to illegal capital outflow," the NRB said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The central bank added that any foreigner or Nepali national found involved in this illegal act within the country or abroad as well as Nepali citizens residing in foreign countries would be punished as per the existing laws. </span></span></span></p> ', 'published' => true, 'created' => '2022-01-24', 'modified' => '2022-01-24', 'keywords' => '', 'description' => '', 'sortorder' => '14400', 'image' => '20220124113853_Pyramidschemeee23.jpg', 'article_date' => '2022-01-24 11:37:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14656', 'article_category_id' => '1', 'title' => 'Country's Imports Exceed Rs 999 Billion in First 6 Months of Current FY ', 'sub_title' => '', 'summary' => 'January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Nepal’s export has witnessed an increase along with the import in the first six months of the current fiscal year. The country imported goods and services worth Rs 999.34 billion and exported goods and services worth Rs 118.85 billion in the review period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal imported goods from 141 countries and the largest import was from India. Imports from India were worth Rs 603.54 billion during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade statistics of the first six months of the current fiscal year (FY 2021/22) released by the Department of Customs shows that the import increased by 59.13 percent while the export went up by 955.48 percent during this period. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The import in the first six months of the last fiscal year (FY 2020/21) stood at Rs 661.24 billion. Although the export is increasing, the import is growing exponentially thereby leading to a heightening trade deficit. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade deficit increased by 46.64 percent in the first six months of the current fiscal year to reach Rs 880.49 billion. The trade deficit in the same period of last fiscal year was Rs 600.44 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the country’s overall foreign trade was worth Rs 1.11 trillion in the first six months of the current fiscal year while it was Rs 722.45 billion during the corresponding period of last fiscal year. The foreign trade in the first six months of the current fiscal year is 54.86 percent more as compared to the foreign trade in the corresponding period of the last fiscal year. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14399', 'image' => '20220123052534_Foreign Trade.jpg', 'article_date' => '2022-01-23 17:24:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14655', 'article_category_id' => '1', 'title' => 'Handicraft Business Slumps Again', 'sub_title' => '', 'summary' => 'January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The handicraft business has faced a slump in the wake of the spread of Omicron variant of Covid-19. The business was increasing despite lots of ups and downs in the last two years until the emergence of the Omicron variant.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Trade has slowed down due to the spread of the virus that caused problems in exporting goods to foreign countries. Export of handicraft items has been limited to 30 percent due to increasing rate of infection in different countries including Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">President of the Federation of Handicraft Association of Nepal, Surendra Bhai Shakya, said that the main reasons for the decline in exports were declining demand from foreign countries and increasing cargo fares.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to him, the cargo fare has increased up to five times at present. It has become more difficult for traders to export goods due to increased fares when business is yet to pick up the momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">There are more than 1,000 handicraft shops in Kathmandu, Bhaktapur and Lalitpur alone, according to the federation. Lately, all these stores have been affected by the Omicron virus.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the handicraft business is directly connected with the tourism sector, the trade of handicraft items decreases as soon as the number of tourists coming to Nepal decreases. At present, even the tourism business has not been showing any development due to which the handicraft business is also facing problems.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">About 30 percent of handicraft shops in Thamel, Asan, New Road and Basantapur areas of Kathmandu have been closed since the onset of the pandemic in Nepal, said President Shakya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Federation, handicraft items worth Rs 6 billion are sold in Nepal's domestic market annually. However, the major markets for Nepali handicrafts are the United States, China and other European countries. Nepal exports handicraft products worth Rs 11 to 15 billion annually to these countries. About 1.1 million people including traders, entrepreneurs and workers are associated with this sector.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the federation says the annual turnover has not been even 5 billion for the past two years and more than 40 percent of the people have lost their jobs due to the impact of the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Shakya emphasized on the need to increase the use and consumption of Nepali handicraft materials within the country itself as the business has slowed down due to the pandemic. He expressed the belief that it would be really convenient for the handicraft business even if only 30 percent of the 42 types of handicraft products produced in Nepal could be consumed within the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Entrepreneurs have complained that the government of Nepal has shown indifference towards handicraft business and that they have had to suffer not only during the pandemic but at other times as well. The SAARC handicraft building constructed on three ropanis of land in Tripureshwor three years ago for the promotion and lab testing of Nepali handicrafts has also not been able to operate yet.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14398', 'image' => '20220123050319_20160802043332_meta.jpg', 'article_date' => '2022-01-23 17:02:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14654', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Monitor Cooperatives', 'sub_title' => '', 'summary' => 'January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 23: The central bank has decided to monitor the activities of cooperatives within the country following an increase in the number of such organisations facing financial crisis.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepal Rastra Bank (NRB) has formed a joint monitoring team in collaboration with the Ministry of Land Management, Cooperatives and Poverty Alleviation and the Department of Cooperatives to monitor the cooperatives in view of increasing irregularities.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government is under pressure to make the monitoring of cooperatives effective as the civil cooperatives with a turnover of over eight billion rupees are facing problems recently. Service seekers of the cooperatives have started agitating in the streets demanding return of their savings.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"Due to the lack of effective monitoring, big cooperatives are facing problems," said Jhalakram Adhikari, registrar of the Department of Cooperatives, adding, “So we are conducting extensive monitoring together with the central bank."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Prior to this, extensive monitoring of large cooperatives was done back in 2010 with the involvement of NRB. The central bank had sent two deputy director-level staff for the monitoring done under the coordination of the Registrar of the Department. After 2014, the Department of Cooperatives has been monitoring the cooperatives alone but it has not been effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Cooperatives Act-2074 BS allows the central bank to monitor big cooperatives. Similarly, the Cooperatives Regulation-2075 also permits NRB to monitor the cooperatives with transactions more than Rs 500 million. However, NRB insists it cannot monitor the cooperatives but only cooperate with the Department of Cooperatives in the monitoring process.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Federal Department of Cooperatives has initiated discussions on setting up a separate monitoring mechanism to make the regulation of cooperatives effective.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Although the jurisdiction of the cooperatives have been transferred to the state and local levels as per the provisions of the constitution, discussions have been started to form a monitoring mechanism with the participation of all the three levels due to vulnerability of the regulatory body, Adhikari said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Finance Minister Janardan Sharma had announced a separate mechanism to regulate cooperatives in the budget replacement bill. As per the provisions of the federal constitution, the rights of cooperatives have been transferred to the local level. Adhikari said that the mechanism could be set up with the participation of all three levels in respect to the spirit of federalism.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At present, all three levels of government have been regulating cooperatives to the best of their ability. However, irregularities have not been brought under control.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14397', 'image' => '20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-01-23 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14653', 'article_category_id' => '1', 'title' => 'Influx of Domestic Tourists up in Khaptad after Snowfall', 'sub_title' => '', 'summary' => 'January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. ', 'content' => '<p><em>This photo posted on social media shows snow-clad hills of Khaptad. Photo Courtesy: Dipak B Khadka.</em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: Khaptad, a major tourist destination in Sudurpaschim Province, has drawn increasing number of domestic tourists since the second snowfall this winter on last Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The green meadow and high hills surrounding Khaptad have been clad with over a feet snow attracting nature lovers, informed the officials of Khaptad National Park at Jhigrana. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Around 12 to 15 domestic tourists visit Khaptad on an average day. The number of visitors shoot up during snowfall, which occurred last time almost three weeks ago on December 29. Although the risk of COVID-19 persist in the district, tourists have been visiting the place to play with snow and enjoy the beauty of the snow-clad hills and meadows, said Hiralal Saun, a local. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The snowfall has stopped and sunshine makes easier for the tourists to visit the place at noon, Saun said. Due to snowfall, Khaptad, which is also a protected conservation area, has witnessed an increase in cold making it difficult for the locals for outdoor movement. Farmers are, however, elated with snowfall hoping that they can yield good harvest. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Deepak Bahadur Khadka, a home-stay proprietor at Jhigrana, shared that the snowy view of the hills and meadows here serves as a feast for the eyes to nature and adventure lovers who have to trek to reach here. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Over 4,000 domestic tourists have visited Khaptad since mid-April last year, the Khaptad National Park Office said. <em>(With inputs from RSS) </em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14396', 'image' => '20220123125240_FJD4KpyaQAkqLPh (1).jpg', 'article_date' => '2022-01-23 12:49:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14652', 'article_category_id' => '1', 'title' => '33% Households at Risk of Falling into Poverty due to COVID-19: Survey', 'sub_title' => '', 'summary' => 'January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread.', 'content' => '<p><em> Photo Courtesy: UNICEF </em></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 23: The pandemic induced by Covid-19 pushed many governments worldwide to take measures such as lockdowns and quarantines to stop its spread. Since March 2020, Nepal has also imposed restrictions on movements and lockdowns, which inevitably led to social and economic hardships such as job loss, disruptions in public services, and limited access to healthcare and education. These visible impacts of the pandemic include a range of multiple issues that children had to face such as losing access to education and compromising their diets due to their caregivers' food insecurity and job losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A significant percentage of population in Nepal remains at risk of falling into poverty, a nationwide remote survey entitled ‘Tracking Socio-Economic Impacts of COVID 19 on Children and Families in Nepal’ states. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey conducted by Sharecast Initiative Nepal in collaboration with UNICEF demonstrated key developments in the lives of the households with children since May 2020. It has revealed that July 2020 recorded more than 60 percent of the households with children lost income and livelihood. Although the percentage of the households with livelihood and income loss has been decreasing substantially since then, a significant percentage of population remains at risk of falling into poverty. As of November 2021, 33 percent of households were at risk of poverty. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The survey was conducted to understand the evolving situation of households with children during the pandemic. Starting from its inception in May 2020, UNICEF and Sharecast Initiative Nepal conducted eight rounds of surveys to monitor and track changes in more than 6,000 households’ livelihood, WASH, and children’s access to education, including food intake and healthcare of children, breastfeeding and pregnant mothers, shared Chief Executive Officer of Sharecast Initiative, Madhu Acharya. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the survey, major emerging needs of families in the pandemic were reportedly financial assistance, food and employment. The survey showed that families continue to incur debt and deplete assets as a coping mechanism. Around 60 percent of parents were found confident about sending their children back to school and 80 percent felt that their children were lagging behind in studies. A total of 21 percent of households with children struggled to obtain enough food in November 2021, the survey revealed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nearly 10 percent of these households reduced dietary intake of their children. Likewise, 15 percent of the respondents reported witnessing violence against women and children was increasing. Roughly, 10 percent of respondents also reported witnessing child labour. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the findings of the survey, 84 percent of respondents wore masks to protect themselves from Covid-19 and 71 percent of the respondents were vaccinated in November 2021. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-23', 'modified' => '2022-01-23', 'keywords' => '', 'description' => '', 'sortorder' => '14395', 'image' => '20220123120815_IMG_0015.jpg', 'article_date' => '2022-01-23 12:06:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14651', 'article_category_id' => '1', 'title' => 'Gautam Buddha Airport Requires more than 2 Dozen Staff Immediately', 'sub_title' => '', 'summary' => 'January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 21: The Civil Aviation Authority of Nepal (CAAN) is preparing to recruit the management staff for the operation of Gautam Buddha International Airport in Bhairahawa. The airport is gearing up for calibration flights and then regular flights subsequently. The Civil Aviation Authority of Nepal (CAAN) has appointed a Managing Director (MD) for the operation and management of the airport. The airport has witnessed 99 percent progress in construction.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">CAAN appointed Govinda Prasad Dahal as the managing director of Gautam Buddha Airport on January 20. Dahal arrived at the airport on January 16. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The airport requires 151 employees for operation. Currently, 34 employees including the managing director, have been appointed. The Central Office of CAAN is recruiting staff from internal sources and open competition.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Newly-appointed managing director Dahal said that a maximum of 30 employees would be needed immediately, though not all of them now. He said that there was an urgent need for staff in the fields of radio, mechanical, computer and fire departments.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As the calibration flight will be done soon at the airport, it is necessary to immediately appoint staff.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He informed that the Aero Thai team is preparing to come to Nepal on Saturday, January 22 for the calibration flight. The authority has reached an agreement with the Thai company for a calibration flight at the airport. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Construction of Gautam Buddha Airport was started seven years ago. The concerned authorities have already spent Rs 22 billion on compensation for acquiring lands. Regarding the equipment and construction, only Rs 2 billion remains to be paid. After waiting for nearly six and a half decades, Nepal is all set to operate Gautam Buddha Airport as the country’s second international airport.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, due to the Covid-19 crisis, the completion of the airport has been delayed, and now the date of the test and calibration flight has been postponed. It is yet to be decided whether the airport, which is in the final stages of construction, will be operated by the CAAN itself or handed over to the private sector. CAAN has said that it is doing homework on the modalities of airport operation.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14394', 'image' => '20220121071013_gautam-buddha-international-airport-blueprint-1536x629.jpg', 'article_date' => '2022-01-21 13:42:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14650', 'article_category_id' => '1', 'title' => 'Economy in Crisis Again', 'sub_title' => '', 'summary' => 'January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">January 21: The economy is on the verge of crisis again due to poor performance of economic indicators and poor implementation of budget. According to the statistics of the Ministry of Finance, the capital expenditure is pitiful and the current programmes announced in the budget have not been implemented for a long time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Financial Comptroller General Office, the government expenditure is pathetic. In the last six months, the government has met only 31 percent of its annual target. As the pandemic resurfaces again, the government is expecting a slump in revenue collection as well as expenditure, and other challenges in meeting the annual target.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ravi Singh, president of the Federation of Contractors Association said that development expenditure is low not only because of the current situation created by the pandemic but also due to the government's policy and the shortage of liquidity. The development activities can be accelerated if the government releases the deposit amount collected as collateral from the contractors, argues Singh. Such an amount totals Rs 30 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Singh shared that if the mobilization payment system is maintained at 20 percent, the cycle of economy will be better and construction work can be expedited. The rise in COVID cases has impeded development projects. The projects that were affected by the pandemic for the last two years will be further affected by the latest Omicron variant. Omicron is expected to affect 2772 development projects across the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government has not paid any attention to the implementation of the programmes announced in the current budget. Distributing cash relief to poor families is one of many such programmes. This affects the economy on one hand and jeopardizes the public trust on the other. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, providing concessional loans to startup businesses have not been implemented though this programme has been included in the budget for the last ten years. The Ministry of Finance and the National Planning Commission have been reiterating that the work procedures are being formulated but it has never gone into implementation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ritesh Kumar Shakya, joint secretary at the Ministry of Finance, informed that the work procedure is taking time and the programme will be implemented as soon as the work is completed. Likewise, the government has introduced the Prime Minister's Employment Programme to provide employment to those who lost their jobs due to the pandemic. But the condition of this programme is awful. A total of 700,000 people had applied for this employment programme but only 6,000 have received employment in the current fiscal year </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The poor implementation of the budget is risking the economic growth rate set for the current fiscal year. The World Bank report had revised the growth rate and brought it down to 3.9 percent. The sectors that influence economic growth are once again bearing the brunt of the pandemic. Hotel Bookings are being canceled. Various five-star hotels, including Soaltee, Everest Hotel, Hotel Yak & Yeti, Hyatt, Marriott, Aloft, Radisson, Hyatt Place, have reported about cancellation of rooms and banquet hall bookings. According to the Baneshwor-based Everest Hotel, the occupancy rate is only seven percent at the moment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The real estate business is also in recession. More than 2500 houses and lands used to be bought/sold in Lagankhel, Bhaktapur and other places of the Kathmandu Valley. The number has significantly gone down. The real estate business has slowed down for the past three months. The interest rate of loans taken by entrepreneurs has increased to twelve to thirteen percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Real estate entrepreneur Dinesh Lal Chuke said the real estate business in the country has also slowed down like in the international market. The shortage of lendable funds in the banking system has impeded the growth of the economy. The loan-to-deposit ratio of financial institutions has increased to 90. Earlier, the CD ratio had increased to 91.49 percent on November 10.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the recent provision of the Nepal Rastra Bank (NRB) to open LCs for import of goods since December, and the provision set by the Ministry of Finance to use up to 80 percent of the local level funds for CD calculations, had eased the CD ratio to 89.29 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Dr Gunakar Bhatta, spokesperson of Nepal Rastra Bank, said that the liquidity crisis is set to improve as the central bank is working on it. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to experts, the government should prevent the economic crisis by increasing external debt and grants along with the increase in capital expenditure. Bimal Koirala, former Chief Secretary, argued the government announces ambitious plans through policies and programmes but do nothing to achieve the goals which is hitting the economic indicators.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14393', 'image' => '20220121013137_Untitled.jpg', 'article_date' => '2022-01-21 13:30:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14649', 'article_category_id' => '1', 'title' => 'Government Preparing to Adjust Price of Milk ', 'sub_title' => '', 'summary' => 'January 21: The government is preparing to adjust the price of milk and dairy products.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">January 21: The government is preparing to adjust the price of milk and dairy products.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Ministry of Agriculture and Livestock Development is planning to adjust the price of milk upon the recommendation of a committee formed to carry out a study regarding the price adjustment of dairy products. The ministry had formed the committee after the Central Dairy Cooperative Association Limited Nepal requested for increasing the price of milk arguing that they were not getting even the cost of investment by selling milk at its current price. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report states that the farmers are compelled to sell milk bearing loss because the price of milk has remained stable for two and half years whereas the price of animal feed and fodder has sky-rocketed during the same period. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Although the price of milk used to be adjusted every year in the past, it has not happened for the past two and half years. Farmers have been selling milk at Rs 53 per litre currently. The report states that the farmers bear loss of Rs 4 per litre when they sell milk at the current rate. It is stated in the report that the price of milk needs to be adjusted with time as the price of veterinary medicine, the salary and allowances of the person tending the cattle, transportation cost and the prices of other goods and equipment have shot up. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The report recommends increasing the price of milk by Rs 10 per litre. The consumers have to pay Rs 76 per litre at present. If the price is adjusted as per the committee's recommendation, the farmers will get Rs 60 per litre while the consumers will have to buy a litre of milk for Rs 86. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Out of the increased rate of Rs 10 per litre, the farmers will get Rs 7 while the dairy entrepreneur will get Rs 3. The farmers will make a profit of Rs 3 per litre after deducting the investment price after the implementation of the new price based on the report. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The committee prepared the report after consulting with the dairy farmers and dairy entrepreneurs in Ilam, Jhapa, Sunsari, Morang, Saptari, Sarlahi, Bara, Makawanpur, Kavre, Chitwan, Nawalparasi, Rupandehi, Kaski, Banke, Surkhet, Kailali and Kanchanpur districts. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The dairy industry contributes 5 percent to the GDP of the country. The annual milk production in the country has reached 2.3 million tonnes. Forty percent of this production is cow milk and 60 percent is buffalo milk. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14392', 'image' => '20220121121357_20200423093954_1542865405_16685959.jpg', 'article_date' => '2022-01-21 12:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14648', 'article_category_id' => '1', 'title' => 'Odd and Even System for Vehicles in Kathmandu Valley from Tonight ', 'sub_title' => '', 'summary' => 'January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 21: The District Administration Office, Kathmandu is preparing to enforce the odd-even system for vehicles from tonight (January 21 midnight) with the rapid surge in cases of Covid-19 including the Omicron variant.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting Chief District Officer of Kathmandu, Suprabha Khanal Dhungel, shared that an order has been issued to operate public and private vehicles (including two-wheelers) with odd registration number on odd days and even registration number on even days in Kathmandu Valley. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The order also stipulates that public transport should not have more passengers than the seat capacity, all passengers should be required to wear masks, and sanitizers should be provided at the door of the vehicle and inside the vehicle. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the order further states that the head of the office will be responsible to make arrangements for proper management of the service in all the public and government offices in the district. <em>(With inputs from RSS)</em></span></span></p> ', 'published' => true, 'created' => '2022-01-21', 'modified' => '2022-01-21', 'keywords' => '', 'description' => '', 'sortorder' => '14391', 'image' => '20220121120258_20210804111341_20200903113103_1599056781.jpg', 'article_date' => '2022-01-21 12:02:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14647', 'article_category_id' => '1', 'title' => 'Foreign Reinsurance Companies Increase Premium Rates', 'sub_title' => '', 'summary' => 'January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: International reinsurance companies have raised the rate of insurance premium owing to rise in insurance claims induced by the COVID-19 pandemic. The pandemic has not only led to a rise in the claims but the revenue of insurance companies has also declined. Also, the insurance business has slumped, making insurance companies increase premium rates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Foreign insurance and reinsurance companies do not invest much in bank deposits as in Nepal. The scope of their investment is wider. Their investment areas have been affected by the pandemic leading to decline in their revenue.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In addition, the pandemic has increased mortality rates in most countries, resulting in increased mortality claims for insurance companies. That's why reinsurance companies have raised premium rates, experts say.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Besides, climate change is inviting major natural disasters, such as tsunamis, storms, landslides, floods, in almost all parts of the world. Such natural disasters have caused extensive damage to various projects, infrastructure and physical assets around the world and led to a rise in insurance claims.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, the insurance business has not increased accordingly. In view of the current circumstances, foreign reinsurance companies have increased the premium rate, experts said.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Damodar Bhandari, assistant chief executive officer of Nepal Reinsurance Company, admits that companies have increased premium rates due to the pandemic and climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">"The pandemic has reduced the volume of revenue of reinsurance companies. On top of that, the claim ratio has increased due to the pandemic and climate change. But, business did not increase in the same ratio," he said, “Therefore, foreign reinsurance companies have increased the premium rate. The ratio of transferring risk through retrocession has also become more expensive."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the rating of some reinsurance companies has shrunk. The rating of Indian reinsurance company GIC dropped from minus A to triple B. According to Bhadari when the foreign companies increase the premium rate, the insurance (life / non-life) done by the general people will become more expensive in the country.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“When the reinsurance companies raise premium rates, insurance companies must increase fees they charge on customers,” he said, "When the premium gets dearer, the number of prospective insurers will go down."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the conditions set by the foreign reinsurance companies may be stricter than before. It is not as simple as before to reinsure in the international market.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chunky Chhetri, president of the Nepal Insurers Association, also informed that the international reinsurance companies have increased the premium rate. "There has been a rise in incidents of floods and landslides leading to a rise in engineering insurance claims in the country,” said Chhetri, “But business has not increased at the same rate.”</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Poshak Poudel, vice president of Life Insurers Association, said that insurance might be dearer in the country due to a rise in premium in the international market.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14390', 'image' => '20220120021710_20191023114923_aaaaa.jpg', 'article_date' => '2022-01-20 14:16:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14646', 'article_category_id' => '1', 'title' => 'Small Businessmen Worried about Increasing Impact of Covid-19', 'sub_title' => '', 'summary' => 'January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 20: The growing impacts of the Omicron variant of Covid-19 has created panic among small and medium enterprises. In the last few days, the number of infected people has been increasing at an alarming rate. As the number of infected people is increasing, the number of customers buying goods in small shops and shopping malls has been declining as well. This has caused a decline in trade as well, adding to the concerns of SMEs businessmen.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders are fearful of lockdown after the government has started imposing strict rules to keep the infection in check. They have been tormented for the past two years due to the lockdown and restrictions time and again to curb the pandemic.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Some of the small traders have already left their business due to the restrictions imposed by the government while the rest have not been able to pay the rent and interest on loans taken from banks. The panic among the traders has increased as the infection rate of Omicron has started increasing.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Naresh Katuwal, the president of National Entrepreneurs Federation of Nepal, an association of small and medium traders, said that the recent situation of Omicron has caused great panic among the traders.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Traders have already been handicapped by the past restrictions. He said that the traders are not in a position to face the same situation again. Instead, he said, the business should be run smoothly by following the criteria set by the Ministry of Health and Population.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The number of customers shopping in shopping malls and other shops has decreased as the number of infected people is increasing. According to Sushma Mahara, treasurer of Nepal Chamber of Commerce and Industry, Kathmandu, the number of customers visiting shopping malls has dropped sharply after the government imposed the rule that no more than 25 people can gather in a place.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">She said that as the number of customers decreased, more than half of the employees working in the shop had to be given leave and stay at home.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Concerned authorities point out that traders will have to resort to other alternatives if they have to face the lockdown again. Small and medium enterprises contribute about 22 percent to the country's GDP and employ more than 1.7 million people.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-20', 'modified' => '2022-01-20', 'keywords' => '', 'description' => '', 'sortorder' => '14389', 'image' => '20220120015243_20200524072335_SMES.jpg', 'article_date' => '2022-01-20 13:51:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
